Apple-way Company had the following balances as of December 31, 2014: Total Current Assets.................................................. $ 87,000 Total
Question:
Apple-way Company had the following balances as of December 31, 2014:
Total Current Assets.................................................. $ 87,000
Total Long-Term Assets............................................ 358,000
Total Current Liabilities............................................. 42,000
Total Long-Term Liabilities....................................... 217,000
Total Shareholders’ Equity........................................ 186,000
Requirement
Calculate Apple-way Company’s debt ratio as of December 31, 2014. Does it appear that Apple-way Company is in a position to take on more debt?
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Related Book For 
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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