Ernst Company's balance sheet shows total liabilities of $32,849,300, total stockholders' equity of $8,729,000, and total assets

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Ernst Company's balance sheet shows total liabilities of $32,849,300, total stockholders' equity of $8,729,000, and total assets of $41,578,300.

Required:

1. Calculate the debt ratio. Round the percentage to two decimal places.

2. Calculate the debt-to-equity ratio. Round to two decimal places.

Related Book For answer-question

Financial Accounting

ISBN: 978-0134564142

6th Canadian edition

Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin

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Posted Date: May 03, 2024 08:07 AM

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Ernst Company's balance sheet shows total liabilities of $32,849,300, total stockholders' equity of $8,729,000, and total assets

Question:

Expert Answer:

1 Debt Ratio Calculation The debt ratio measures the proportion of a companys assets financed by de... View the full answer

Financial Accounting

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