1.

Wallace Driving Schools 2020 balance sheet showed net fixed assets of $2.3 million, and the 2021 balance sheet showed net fixed assets of $3.1 million. The companys 2021 income statement showed a depreciation expense of $327,000.

What was net capital spending for 2021? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)

2.

Just Dew It Corporation reports the following balance sheet information for 2020 and 2021.

JUST DEW IT CORPORATION
2020 and 2021 Balance Sheets
Assets	2020	2021	Liabilities and Owners Equity	2020	2021
Current assets			Current liabilities
Cash	$ 14,588	$ 17,631	Accounts payable	$ 55,653	$ 63,073
Accounts receivable	35,258	41,019	Notes payable	21,895	25,324
Inventory	65,567	71,505
Total	$ 115,413	$ 130,155	Total	$ 77,548	$ 88,397
			Long-term debt	$ 58,000	$ 62,000
			Owners equity
			Common stock and paid-in surplus	$ 60,000	$ 60,000
			Retained earnings	397,278	418,179
Net plant and equipment	$ 477,413	$ 498,421	Total	$ 457,278	$ 478,179
Total assets	$ 592,826	$ 628,576	Total liabilities and owners equity	$ 592,826	$ 628,576

Based on the balance sheets given for Just Dew It:
a.	Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
b.	Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
c.	Calculate the cash ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
d.	Calculate the NWC to total assets ratio for each year. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
e.	Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
f.	Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

2020 2021

A. Current Ratio ______ times. _____ times

B. Quick Ratio ______ times. _____ times

C. Cash ratio ______ times. _____ times

D. NWC ratio ______ times. _____ times

E. Debt-equity Ratio ______ times. _____ times

F. Total debt ratio ______ times. _____ times

G. Long-term debt ratio ______ times. _____ times