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Calculate the following financial ratios for William and Elizabeth: (Round answers to 2 decimal places, e.g. 5.25%.) 1. Current ratio. % 2. Debt ratio. %
Calculate the following financial ratios for William and Elizabeth: (Round answers to 2 decimal places, e.g. 5.25\%.) 1. Current ratio. % 2. Debt ratio. % 3. Savings ratio. % William has been dating Elizabeth for the past 5 years, since their junior year in college. Just recently, they decided to get married. Elizabeth works for a regional tourism board, where she makes $28,800 per year. William has an annual salary of $40,200. In oreparation for life after marriage, she and William have developed the following budget and balance sheet. William and Elizabeth's Balance Sheet Assets Checking $720 Savings 2,920 Automobile 25,520 Motorcycle 3,320 Furnishings 2,920 Clothes 4,920 Other household 2,800 Sports equipment 2,920 Collections 1,600 401(k) plans Total Assets $83,72036,080 Liabilities Creditcards$11,440 Student loans 46,640 Car loans Total Liabilities $77,00018,920
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