The following balances and amounts were taken from the financial statements of Ortiz, Inc. Accounts payable...

 

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The following balances and amounts were taken from the financial statements of Ortiz, Inc. Accounts payable $35,000 Cash provided by operations $90,000 Accounts receivable 37,500 Net income 36,000 Average common shares 20,000 Salaries and wages 8,000 payable Average current liabilities 110,000 Stockholders' equity 240,000 Total assets 600,000 Total current assets 300,000 Average total assets 320,000 Total current liabilities 120,000 Cash 100,000 How much is the debt to assets ratio? The following balances and amounts were taken from the financial statements of Ortiz, Inc. Accounts payable $35,000 Cash provided by operations $90,000 Accounts receivable 37,500 Net income 36,000 Average common shares 20,000 Salaries and wages 8,000 payable Average current liabilities 110,000 Stockholders' equity 240,000 Total assets 600,000 Total current assets 300,000 Average total assets 320,000 Total current liabilities 120,000 Cash 100,000 How much is the debt to assets ratio?

Answer rating: 100% (QA)

The debt to assets ratio is calculated by dividing total debt by total assets In this case ... View the full answer