Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A firm's Cash balance is $6,300,000, Accounts Receivable balance is $6,700,000, Inventory balance is $5,000,000 and Fixed Assets balance is $21,000,000. The firm's Current Portion
A firm's Cash balance is $6,300,000, Accounts Receivable balance is $6,700,000, Inventory balance is $5,000,000 and Fixed Assets balance is $21,000,000. The firm's Current Portion of Long Term Debt balance is $3,900,000, Accounts Payable balance is $1,700,000, Long Term Bonds balance is $29,000,000 and Retained Earnings balance is $4,400,000. What is the firm's Long Term Debt Ratio?
The answer is 86.83% - I just need to show how to get it
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