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The following data were taken from Stanton Company's balance sheet: Total liabilities Total owner's equity Dec. 31, 20X2 Dec. 31, 20X1 $110,000 $105,000 90,000
The following data were taken from Stanton Company's balance sheet: Total liabilities Total owner's equity Dec. 31, 20X2 Dec. 31, 20X1 $110,000 $105,000 90,000 65,000 What are the ratios of liabilities to owner's equity for 20X2 and 20X1, respectively?
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
27th edition
978-1337272094, 1337272094, 978-1337514071, 1337514071, 978-1337899451
