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Question Help Doug's Boat Shop, Inc. reports operating income of $ 300,000 and interest expense of $36,000. The average common stockholders' equity during the year
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Doug's Boat Shop, Inc. reports operating income of $ 300,000 and interest expense of $36,000.
The average common stockholders' equity during the year was $20,000.
The beginning assets balance is $55,000
and ending assets balance is $160,000.
What is the leverage ratio? (Round your final answer to two decimal places.)
A. 10.75
B. 7.15
C. 24.80
D. 5.38
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Auditing And Assurance Services
Authors: Alvin Arens, Randal J. Elder
14th Global Edition
0273755013, 978-0273755012
