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The following information was available for the year ended December 31, 2013: Earnings before interest and taxes (operating income) $ 96,000 Net income $ 47,000
The following information was available for the year ended December 31, 2013:
| Earnings before interest and taxes (operating income) | $ | 96,000 | Net income | $ | 47,000 | |
| Interest expense | 22,000 | Total assets at year-end | 320,000 | |||
| Income tax expense | 27,000 | Total liabilities at year-end | 168,000 | |||
| b. Calculate the debt/equity ratio at December 31, 2013. (Round your answer to 2 decimal places.) | ||||||
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Franchising An Accounting Auditing And Income Tax Guide
Authors: Ross A. McCallum
2011edition
1460906179, 978-1460906170
