A corporations balance sheet showed the following amounts: Current Liabilities ..................................$20,000 Bonds Payable .......................................$60,000 Lease Obligations ..................................$12,000

Question:

A corporation’s balance sheet showed the following amounts:

Current Liabilities ..................................$20,000

Bonds Payable .......................................$60,000

Lease Obligations ..................................$12,000

Deferred Income Taxes ...........................$2,000

Total stockholders’ equity was ..............$42,000

The debt-to-equity ratio is............................____

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...