Question: Please given correct answer for General accounting question I need step by step explanation The following balance sheet information is provided for Riverdale Corporation for

Please given correct answer for General accounting question I need step by step explanation

Please given correct answer for General
The following balance sheet information is provided for Riverdale Corporation for 2022: Assets Amount Cash $5,200 Accounts receivable $6,100 Inventory $8,500 Prepaid expenses $2,100 Plant and equipment, net of depreciation $20,000 Land $15,000 Total assets $56,900 Liabilities and Stockholders' Equity Amount Accounts payable $3,500 Salaries payable $7,000 Bonds payable (Due in 2024) $10,000 Common stock, no par $18,000 Retained earnings $18,400 Total liabilities and stockholders' equity $56,900 What is the company's debt to equity ratio

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