Question
The Hudson Corporation reported the following data: Year 3Year 2Year 1Equipment$18,000$16,000$14,000Accounts payable2,3008001,000Cash8,9009,3008,200Supplies1,2001,4001,700Accounts receivable600400200Notes payable10,30012,10014,700Inventory2,0002,2002,400 What is the company's debt ratio for Year 3?Convert your final
The Hudson Corporation reported the following data:
Year 3Year 2Year 1Equipment$18,000$16,000$14,000Accounts payable2,3008001,000Cash8,9009,3008,200Supplies1,2001,4001,700Accounts receivable600400200Notes payable10,30012,10014,700Inventory2,0002,2002,400
What is the company's debt ratio for Year 3?Convert your final answer to a percentage, round to one decimal place and enter without the "%" sign (e.g. a final answer of 0.105678 would be entered as 10.6).
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
18th edition
1292162406, 978-1292162409
