Exercise 9-4A Understand the effect of leases on financial ratios (LO9-3, 9-8) Coney Island enters into a lease agreement for a new ride. The lease payments have a present value of $2.4 million. Prior to this agreement, the company's total assets are $26.2 million and its total liabilities are $15.4 million. Required: 1. Calculate total stockholders' equity prior to the lease agreement. (Enter your answer in millions not in dollars (i.e., $5,000,000 should be entered as 5). Round your answer to 2 decimal places.) Answer is complete and correct. Stockholders' equity $ 10.80 million 2. & 3. Calculate the debt to equity ratio, prior to the lease being signed and immediately after the lease being signed. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Before Lease Debt to equity ratio 1.60 After Lease 1.40