Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e. g., 32.16.)

Bethesda Mining

Common-size Balance Sheets for as at

                                                                  2018        2019

                                                                     %              %

Assets

Current Assets

     Cash                                                     5.91         7.23

     Accounts Receivable                          7.00        8.96        

     Inventory                                             13.67       20.27

     Total                                                   26.58      36.46

Fixed Assets

     Net Plant and Equipment                  73.41       63.54

Total Assets                                             100.00   100.00

Liabilities and Owners` Equity

Current Liabilities

     Accounts Payable                              21.13       21.23

     Notes Payable                                    9.43        14.66

     Total                                                  30.55      35.90

Long term debt                                       26.32       18.61

Owners` Equity

   Common Stock and Paid in surplus  24.43     23.60

   Accumulated Retained Earnings        18.70     21.89

   Total                                                      43.12     45.48

Total Liabilities and Owners` Equity     100.00    100.00

Explanation:

Hi, I have attached the full question as an image below.

In a Common Size Statement of Financial Position, each item is expressed as a percentage of Total Assets.

So, the first step is to determine the Total Assets for the Period you want work with. Next, express each item as a percentage of the Total Sales

answer; i believe the answer is 40,600,000;

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