Question: Balance sheet Assets Liabilities Current Assets Current Liabilities Cash 49 Accounts payable 38 Accounts rec. 21 Notes payable 5 Inventory. 18 total current asset. 88

Balance sheet

Assets Liabilities

Current Assets Current Liabilities

Cash 49 Accounts payable 38

Accounts rec. 21 Notes payable 5

Inventory. 18

total current asset. 88 Total current liabilities 43

Long term assets long term liabilities

Net property 122 Long term debt 134

Total long term 122 total long term 134

total liabilities 177

Stockholders Equity 33

total assets 210 Total Liability and Stock Equity. 210

Refer to the balance sheet above. All quantities shown are in millions of dollars. If the company has 5 million shares outstanding, and these shares are trading at a price of $7.39 per share, then using the market value of equity, what is the debt-equity ratio for the firm? Include two decimals in your answer.

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