Question
Cartel Company's financial statement for the year 2013 reported total liabilities and stockholders equity of $1,400,000; total liabilities of $750,000; total current assets of $680,000;
Cartel Company's financial statement for the year 2013 reported total liabilities and stockholders equity of $1,400,000; total liabilities of $750,000; total current assets of $680,000; and total property, plant, and equipment of $720,000. Compute the debt-equity ratio for the year.
A. 1.15 B. 0.54 C. 2.15 D. 0.87
Show your work; points will be awarded only if process to solve is shown.
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Accounting Best Practices
Authors: Steven M. Bragg
3rd Edition
0471444286, 978-0471444282
