Question: Cornerstone Exercise 9-41 (Algorithmic) Ratio Analysis Red Corporation had $2,163,000 in total liabilities and $3,500,000 in total assets as of December 31, 2020. Of Red's

Cornerstone Exercise 9-41 (Algorithmic) Ratio Analysis Red Corporation had $2,163,000 in total liabilities and $3,500,000 in total assets as of December 31, 2020. 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. Round your answers to four decimal places. Debt to Total Assets Long-Term Debt to Total Equity

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