Question: Given the following data: Dec. 31, Year 2 Dec. 31, Year 1 Total liabilities $119,000 $82,500 Total stockholders' equity $85,000 $75,000 Compute the ratio of

Given the following data:

Dec. 31, Year 2 Dec. 31, Year 1
Total liabilities $119,000 $82,500
Total stockholders' equity $85,000 $75,000

Compute the ratio of liabilities to stockholders' equity for each year. Round to two decimal places.

Format your answer as: Year 1: 1.23, Year 2: 9.87

In order to earn credit for your answers to the problems, you are required to show all supporting work.

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