Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A firm has a long-term debt-equity ratio of 0.47. Shareholders' equity is $1.7 million. Current assets are $323,000, and total assets are $2.669 million.

image text in transcribed

A firm has a long-term debt-equity ratio of 0.47. Shareholders' equity is $1.7 million. Current assets are $323,000, and total assets are $2.669 million. If the current ratio is 1.9, what is the ratio of debt to total long-term capital? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct. Debt to total long-term capital 31.97 x %

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

Introduction To Derivatives And Risk Management

Authors: Don M. Chance, Robert Brooks

10th Edition

130510496X, 978-1305104969

More Books

Students also viewed these Finance questions

Question

In Problem, find f (x) and simplify. f(x) = (x - 6)3

Answered: 1 week ago