Compare the debt-to-equity ratios of Bank of America Corporation and JPMorgan Chase & Co. for the fiscal
Fantastic news! We've Found the answer you've been seeking!
Question:
Compare the debt-to-equity ratios of Bank of America Corporation and JPMorgan Chase & Co. for the fiscal year ended December 31, 20XX. Bank of America had total liabilities of $500,000,000 and shareholders' equity of $300,000,000, while JPMorgan Chase had total liabilities of $400,000,000 and shareholders' equity of $200,000,000. Calculate the debt-to-equity ratio for each company.
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date: