The following information was taken from Jacobus Companys balance sheet: Fixed assets (net) ................... $630,000 Long-term liabilities
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The following information was taken from Jacobus Company’s balance sheet:
Fixed assets (net) ................... $630,000
Long-term liabilities ................. 140,000
Total liabilities .......................... 957,000
Total stockholders’ equity ....... 290,000
Determine the company’s
(a) Ratio of fixed assets to long-term liabilities and
(b) Ratio of liabilities to stockholders’ equity. Round to one decimal place.
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Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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