Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information was taken from Acme Company's balance sheet: Fixed assets (net) $497,000 Long-term liabilities 355,000 Total liabilities 1,366,750 Total stockholders' equity 1,242,500 Determine
The following information was taken from Acme Company's balance sheet:
Fixed assets (net) | $497,000 |
Long-term liabilities | 355,000 |
Total liabilities | 1,366,750 |
Total stockholders' equity | 1,242,500 |
Determine the company's (a) ratio of fixed assets to long-term liabilities and (b) ratio of liabilities to stockholders' equity. If required, round your answers to one decimal place.
a. Ratio of fixed assets to long-term liabilities | fill in the blank 1 |
b. Ratio of liabilities to stockholders' equity | fill in the blank 2 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started