25 A firm has a debt ratio of 0.38. Which statement accurately describes the amount of leverage of this firm? For every dollar of assets, the firm has $0.38 of liabilities. The firm needs to sell 62% of assets to pay off all liabilities. For every dollar of assets, the firm has $0.62 of liabilities. The firm is financing with 62% debt and 38% equity. 26 Which documents would have the necessary information needed to calculate activity ratios? IRS audits Financial statements Stock analyst reports Bank statements NEXT > BOOKMARK CLEAR 71 A CFO has estimated the cash inflows and outflows for a ski store for next year. Which report has been prepared? Cash/credit analysis o Pro forma balance sheet O Cash budget Pro forma income statement