Bethesda Mining Company reports the following balance sheet information for 2021 and 2022. ...
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Finance
Bethesda Mining Company reports the following balance sheet information for 2021 and 2022.
BETHESDA MINING COMPANY
Balance Sheets as of December 31, 2021 and 2022
Assets
2021
2022
Liabilities and Owners Equity
2021
2022
Current assets
Current liabilities
Cash
$ 50,434
$ 63,944
Accounts payable
$ 189,922
$ 197,611
Accounts receivable
62,281
82,639
Notes payable
85,020
136,588
Inventory
123,735
189,433
Total
$ 274,942
$ 334,199
Total
$ 236,450
$ 336,016
Long-term debt
$ 237,000
$ 173,750
Owners equity
Common stock and paid-in surplus
$ 218,000
$ 218,000
Fixed assets
Accumulated retained earnings
164,655
199,745
Net plant and equipment
$ 658,147
$ 589,678
Total
$ 382,655
$ 417,745
Total assets
$ 894,597
$ 925,694
Total liabilities and owners equity
$ 894,597
$ 925,694
Suppose that the Bethesda Mining Company had sales of $2,256,873 and net income of $99,381 for the year ending December 31, 2022. Calculate ROE using the DuPont identity.
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent.
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