Question

Pine City Company had the following balances as of December 31, 2014:
Total Current Assets.................................. $154,000
Total Long-Term Assets............................ 501,000
Total Current Liabilities............................. 95,000
Total Long-Term Liabilities......................... 195,000
Total Shareholders’ Equity.......................... 365,000
Requirement
Calculate Pine City Company’s debt ratio as of December 31, 2014. Does it appear that Pine City Company is in a position to take on more debt?


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  • CreatedJuly 08, 2015
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