Question
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 |
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
26th edition
128574361X, 978-1305446052, 1305446054, 978-1285743615
