CO Question 12 The following balance sheet for Gulf Company, at the year ended December 2020 Assets Cash Marketable Securities Receivables $2,847,900 420,000 1,450,000 965.500 Inventories Plant assets (Net) 3,221,000 Liabilities and Stockholders' Equity Current liabilities $1,298,800 Long-term liabilities Preferred stock Common stock Retained earnings Treasury stock 3,654,400 984,000 2,140,000 882,000 (64,800) Required: Calculate the following for Gulf Company: 1. Debt/equity ratio at the end of 2020. 2. Long-Term Debt to Long-Term Capital Ratio at the end of 2020. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt T MacBook Air * *