Question: Instructions: Use the following information to answer question Balance Sheet As of 12/31/16 ASSETS LIABILITIES Cash $600,000 Accounts Payable $700,000 Accounts Receivable 700,000 Mortgage 2,000,000
Instructions: Use the following information to answer question Balance Sheet As of 12/31/16
| ASSETS | LIABILITIES | |||
| Cash | $600,000 | Accounts Payable | $700,000 | |
| Accounts Receivable | 700,000 | Mortgage | 2,000,000 | |
| Inventory | 500,000 | |||
| Building | 2,800,000 | Total Liabilities | $2,700,000 | |
| FUND BALANCE | ||||
| Restricted Funds | $1,000,000 | |||
| Unrestricted Funds | 900,000 | |||
| Total Fund Balance | $1,900,000 | |||
| Total Assets | $4,600,000 | Total Liabilities + Fund Balance | $4,600,000 | |
What is the debt ratio?
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