Ernst Company's balance sheet shows total liabilities of $27,600,100, total stockholders' equity of $12,355,000, and total assets

Question:

Ernst Company's balance sheet shows total liabilities of $27,600,100, total stockholders' equity of $12,355,000, and total assets of $39,955,100.
Required:
Round answers to two decimal places.
1. Calculate the debt ratio.
2. Calculate the debt-to-equity ratio.
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...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Cornerstones Of Managerial Accounting

ISBN: 9780538473460

4th Edition

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Question Posted: