HELLO I wanna ask, which one is it true from the formulas bellow : 1. equity reinvestment ratio = [(Net Capital expenditure+Change in Working Capital) - (New Debt Issued-New Debt Repayment) ] / Net income ,

or

2. equity reinvestment ratio = 1- [ (Net Capital expenditure+Change in Working Capital) - (New Debt Issued) ] / Net income ,

or

3. equity reinvestment ratio = [ (Net Capital expenditure+Change in Working Capital) x (1- Debt ratio) ] / Net income ,