Answered step by step
Verified Expert Solution
Question
1 Approved Answer
19. The 2019 and 2020 partial balance sheets for Fox Industries are shown below: 2019 2020 Current Assets Cash and cash equivalents $ 16,000 $
19. The 2019 and 2020 partial balance sheets for Fox Industries are shown below:
| 2019 | 2020 |
Current Assets |
|
|
Cash and cash equivalents | $ 16,000 | $ 14,000 |
Accounts Receivable, net | 20,000 | 24,000 |
Inventory | 25,000 | 23,000 |
Marketable equity securities | 5,000 | 5,000 |
Total Current Assets | 66,000 | 66,000 |
Plant & Equipment, net | 60,000 | 40,000 |
Total Assets | 126,000 | 106,000 |
|
|
|
Current Liabilities | 20,000 | 30,000 |
Noncurrent Liabilities | 60,000 | 40,000 |
Total Liabilities | 80,000 | 70,000 |
Total Stockholders' Equity | 46,000 | 36,000 |
Total liabilities and Stockholders' Equity | $126,000 | $106,000 |
The 2020 debt ratio is:
Group of answer choices
63.49%
28.30%
66.04%
83.33%
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