Question
Urban, Inc. provides the following data: Urban, Inc. Comparative Balance Sheet Year Ended Dec. 31, 2017 Assets Current Assets: Cash and Cash Equivalents $29,000 Account
Urban, Inc. provides the following data:
Urban, Inc. Comparative Balance Sheet Year Ended Dec. 31, 2017 | ||
Assets | ||
Current Assets: | ||
Cash and Cash Equivalents | $29,000 | |
Account Receivable, Net | 31,000 | |
Merchandise Inventory | 53,000 | |
Total Current Assets | $113,000 | |
Property, Plant, and Equipment, Net | 120,000 | |
Total Assets | $233,000 | |
Liabilities | ||
Current Liabilities: | ||
Accounts Payable | $ 4 comma 200 |
Notes Payable | 2 comma 800 |
Total Current Liabilities | $ 7 comma 000 |
Longminus |
term Liabilities | 88 comma 000 |
Total Liabilities | $ 95 comma 000 |
Stockholders' Equity | ||
Common Stock | $ 37 comma 000 |
Retained Earnings | 101 comma 000 |
Total Stockholders' Equity | $ 138 comma 000 |
Total Liabilities and Stockholders' Equity | $ 233 comma 000 |
Calculate the debt to equity ratio. (Round your answer to two decimal places.)
A.0.41
B.0.69
C.0.05
D.1.19
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started