Question
The following information was taken from Slater Companys balance sheet: Fixed assets (net) $1,800,000 Long-term liabilities $750,000 Total liabilities $730,000 Total stockholders equity $2,190,000 Determine
The following information was taken from Slater Companys balance sheet:
Fixed assets (net) $1,800,000
Long-term liabilities $750,000
Total liabilities $730,000
Total stockholders equity $2,190,000
Determine the companys (a) Ratio of fixed assets to long-term liabilities, and (b) ratio of liabilities to stockholders equity? Round your answer to one digit after the decimal place.
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Practical Auditing
Authors: Ernest Evan Spicer, Ernest Charles Pegler
17th Edition
0406678014, 9780406678010
