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Evaluating Firm Solvency The following financial information is taken from the balance sheets of the Lambeth Company and the Maritza Company: Lambeth Maritza Total debt
Evaluating Firm Solvency The following financial information is taken from the balance sheets of the Lambeth Company and the Maritza Company: Lambeth Maritza Total debt $460,000 $960,000 Total assets 770,000 1,220,000 Calculate the debt-to-total assets ratio. Round answers to the nearest whole percentage, when appropriate. Lambeth Answer % Martiza Answer % Which firm has the higher level of solvency
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