Question
The following information was taken from Slater Company's balance sheet: Fixed assets (net) $1,716,111 Long-term liabilities 405,700 Total liabilities 514,560 Total stockholders' equity 1,608,000 Round
The following information was taken from Slater Company's balance sheet:
| Fixed assets (net) | $1,716,111 |
| Long-term liabilities | 405,700 |
| Total liabilities | 514,560 |
| Total stockholders' equity | 1,608,000 |
Round your answers to two decimal places.
a. Determine the company's ratio of fixed assets to long-term liabilities.
b. Determine the company's ratio of liabilities to stockholders' equity.
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Understanding And Auditing IT Systems Volume 2
Authors: Young-Woon Min
2nd Edition
1257758837, 978-1257758838
