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Lowe's Corporation had the following items on its balance sheet on December 31, 2019: Wages Payable: $74,000 Accounts Payable: $22,000 Notes Payable: $400,000 Property and

Lowe's Corporation had the following items on its balance sheet on December 31, 2019:

Wages Payable: $74,000

Accounts Payable: $22,000

Notes Payable: $400,000

Property and Equipment: $356,000

Inventory: $48,000

Accounts Receivable: $120,000

Cash: $610,000

What was the company's leverage ratio for 2019?

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