Answered step by step
Verified Expert Solution
Question
1 Approved Answer
14 0.06 points Check my work Surf's Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in millions):
14 0.06 points Check my work Surf's Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in millions): Surf's Up Selected balance sheet data Total assets Total liabilities 02:15:07 Total stockholders' equity Surf's Up Selected income statement data eBook Sales revenue Interest expense Tax expense Print Net income 2021 $795 15 44 66 2021 2020 $727 628 $718 99 530 188 References Based on these amounts, calculate the following ratios for 2021: (Do not round intermediate calculations. Round all final answers to 1 decimal place. Enter your answer in millions (i.e. 5,500,000 should be entered as 5.5).) Debt to Equity Ratio Total liabilities Total Stockholders' equity 6.3 $ 628.0 $ 99.0 Return on Assets Ratio Average total assets = 9.1 % 723.0 Net income + $ 66.0 $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started