Required information

Problem $9-4$A $($Algo$)$ Explore the impact of leases on the debt to equity ratio $($LO$9-3,9-8)$

$[$The following information applies to the questions displayed below.$]$

Thrillville has $$40\mathrm{.}5$ million in bonds payable. One of the contractual agreements in the bond is that the debt to

equity ratio cannot exceed $2\mathrm{.}0.$ Thrillville's total assets are $$80\mathrm{.}5$ million, and its liabilities other than the bonds

payable are $$10\mathrm{.}5$ million. The company is considering some additional financing through leasing.

Problem $9-4$A $($Algo$)$ Part $1$

Required:

Calculate total stockholders' equity using the balance sheet equation. $($Enter your answer in millions rounded to $1$ decimal

place $($i$.$e$.,$ $$5,500,000$ should be entered as $5\mathrm{.}5).)$