Hi, Happy Sunday

Question here, can you say exactly WHAT is an asset and liabilty, I know the formula of ( liabilt / asset ) 100 = debt ratio. BUT i always put in the incorrect numbers and come to the wrong conclusion.

Powerful Email from a Disgru X up Athabasca University - myAl X *Course Hero X U ACCT 253v13: Go to Lifa X Ly Introduction to Financial Acc x Ly Lab 12.4 (Question 1) ~ Lyry X + C lifa1.lyryx.com/student-servlets/LabServlet?ccid=7845 + Apps Home Other Bookmarks yryx Spreadsheet t Preferences Help Lab 12.4 (Question 1) Name: Fiona Murton Cabrera Date: 2020-10-18 Question 1 [5 points] The following alphabetized list of adjusted account balances at August 31, 2014 is available for Vision Consulting Inc. Accounts Payable... $700 Accounts Receivable 15, 100 Cash 3,300 Dividends 8,800 Operating Expenses. 8,300 Prepaid Advertising. 9,400 Revenues . 6,300 Share Capital 35,900 Unearned Revenue. 2,000 a) Calculate the debt ratio for Vision Consulting Inc. Round your final answer to 2 decimal places. Debt ratio = % b) In comparison to an industry average of 7% does Vision Consulting Inc.'s debt ratio compare favorably or unfavorably? How it compares = (select one) Official Time: 15:14:17 SUBMIT AND MARK SAVE AND CLOSE