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Question 20 (4 points) Balance Sheets Current assets Cash 1,010,000 Ace receivable not given Inventories 1,150,000 Fixed assets 4,100,000 TOTAL ASSETS 7, 200,000 2 Current
Question 20 (4 points) Balance Sheets Current assets Cash 1,010,000 Ace receivable not given Inventories 1,150,000 Fixed assets 4,100,000 TOTAL ASSETS 7, 200,000 2 Current liabilities 5 Acc payable not given Long-term debt 2,900,000 Common stock 1,010,000 3 Retained earnings 2.830,000 TOTAL LIRE and EQUITY 7,200,000 Income Statement Sale: 21,600,000 Operating expense 18.140,000 EBIT 3,460,000 Interest expense 348.000 ET3,112,000 Ker 1.245,000 Net income. 367,000 kecane CD4, Ddu, u TOTAL. LIAB and EQUITY 7,200,000 Income Statement Sales 21,600,000 Operating expense 18, 140,000 EBIT 3, 460,000 Interest expense 348,000 EBT 3, 112,000 Taxes 1, 245,000 Net income 1, 867,000 What is the firm': debt ratio? 93.61% 40.28% 53.33% 46.67%
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