Maple Companys balance sheet shows total liabilities of $32,800,300, total stockholders equity of $10,350,000, and total assets

Question:

Maple Company’s balance sheet shows total liabilities of $32,800,300, total stockholders’ equity of $10,350,000, and total assets of $43,150,300.

Required:

Round answers to two decimal places.

1. Calculate the debt ratio for Maple Company.

2. Calculate the debt-to-equity ratio for Maple Company.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...