Question
Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $22600 Net income $43100 Current liabilities 13000
Using the following balance sheet and income statement data, what is the debt to assets ratio?
| Current assets | $22600 | Net income | $43100 | |
|---|---|---|---|---|
| Current liabilities | 13000 | Stockholders' equity | 64600 | |
| Average assets | 131200 | Total liabilities | 29600 | |
| Total assets | 87000 |
Average common shares outstanding was 14000.
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
Financial Accounting
Authors: C. William Thomas, Wendy M Tietz
13th Edition
013689903X, 9780136899037
