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In the past year. Pharoah Corporation reported assets of $232046000. Liabilities reported on the balance sheet on the same date were reported at $68965232.
In the past year. Pharoah Corporation reported assets of $232046000. Liabilities reported on the balance sheet on the same date were reported at $68965232. Pharoah issued a new note payable for cash during the year. The 8%, 5-year note was issued at a face value of $4990000. What is the company's debt to asset ratio after the refinance?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
