Question: . Calculate debt and equity ratios using the following information- Accounts payable- $10,000 Accounts Receivable- $15,000 Buildings- $42,000 Cash- $4,000 Current Notes payable- $7,000 Office

. Calculate debt and equity ratios using the following information-

Accounts payable- $10,000

Accounts Receivable- $15,000

Buildings- $42,000

Cash- $4,000

Current Notes payable- $7,000

Office supplies $3,000

Long term notes payable- $40,000

Prepaid insurance- $2,000

Unearned revenue liability- $1,000

Wages payable- $3,000

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