Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information was taken from Combine Company's balance sheet: Fixed assets ( net ) $ 1 , 9 5 9 , 6 0 0

The following information was taken from Combine Company's balance sheet:
Fixed assets (net) $1,959,600
Long-term liabilities 426,000
Total liabilities 2,534,700
Total stockholders' equity 1,491,000
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

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions