Marie Companys balance sheet shows total liabilities of $678,000, total equity of $226,000, and total assets of

Question:

Marie Companys balance sheet shows total liabilities of $678,000, total equity of $226,000, and total assets of $904,000.

Required:

Round answers to two decimal places.

1. Calculate the debt ratio for Marie Company.

2. Calculate the debt-to-equity ratio for Marie Company.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...