The liabilities and owners' equity for Campbell Industries is found here:

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a.What percentage of the firm's assets does the firm finance using debt (liabilities)?

b.If Campbell were to purchase a new warehouse for

$1.2

million and finance it entirely with long-term debt, what would be the firm's new debt ratio?

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Part 1

a.What percentage of the firm's assets does the firm finance using debt (liabilities)?

The fraction of the firm's assets that the firm finances using debt is

enter your response here%.

(Round to one decimal place.)

Accounts Payable 489,000

Notes Payable 242,000

Current Liabilities 731,000

Long Term Debt 1,240,000

Common Equity 4,746,000

Total Liabilities and Equity 6,717,000