Coney Island enters into a lease agreement for a new ride valued at $3.5 million. Prior to this agreement, the companys total assets are $29.5 million and its total liabilities are $16.5 million. Required: 1. Calculate total stockholders equity prior to the lease agreement. (Enter your answer in millions not in dollars.)

2. & 3. Calculate the debt to equity ratio. (Round your answers to 2 decimal places.)

operating

capital