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.
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
2nd Edition
0078110823, 9780078110825
