Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A firm has a long - term debt - equity ratio of 0 . 4 9 . Shareholders' equity is $ 8 9 0 ,

A firm has a long-term debt-equity ratio of 0.49. Shareholders' equity is $890,500. Current assets are $324,700, and the current ratio is 2.36. The only current liabilities are notes payable. What is the total debt ratio? (Round your answer to 2 decimal places.)
Total debt ratio
.26
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Analysis With Microsoft Excel 2016

Authors: Timothy R. Mayes, Todd M. Shank

8th Edition

1337298042, 9781337298049

More Books

Students also viewed these Finance questions

Question

Why are stereotypes so resistant to change?

Answered: 1 week ago

Question

12. What are their values? (ethical stance in society)

Answered: 1 week ago