Red Corporation had $2,000,000 in total liabilities and $3,500,000 in total assets as of December 31, 2009.

Question:

Red had $2,000,000 in total liabilities and $3,500,000 in total assets as of December 31, 2009. Of Red's total liabilities, $350,000 is long-term.

Required:
Calculate Red's debt to assets ratio and its long-term debt to equity ratio.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...