Question
The following information was taken from Jacobus Companys balance sheet: Fixed assets (net) $630,000 Long-term liabilities 140,000 Total liabilities 957,000 Total stockholders equity 290,000 Determine
The following information was taken from Jacobus Companys balance sheet:
| Fixed assets (net) | $630,000 |
| Long-term liabilities | 140,000 |
| Total liabilities | 957,000 |
| Total stockholders equity | 290,000 |
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.
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
