Question
On December 31, 2018, a company had assets of $35 billion and shareholders' equity of $30 billion. That same company had assets of $49 billion
On December 31, 2018, a company had assets of $35 billion and shareholders' equity of $30 billion. That same company had assets of $49 billion and shareholders' equity of $11 billion as of December 31, 2019. During 2019, the company reported total sales revenue of $28 billion and total expenses of $26 billion.
What is the company's debt-to-asset ratio as of December 31, 2019?
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Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni
13th edition
1259444953, 978-1259444951
