The most recent fiscal year's financial statements of Steeltoe Enterprises show average net operating assets (NOA) of $4,556 million, average net nonoperating obligations (NNO) of $564 million, average total liabilities of $5,360 million, and year-end shareholders' equity of $4,272 million. The company's financial leverage (FLEV) is: Group of answer choices 0.124 0.132 0.141 7.574 There is not enough information to determine the ratio.

Answer rating: 100% (QA)

To calculate the financial leverage FLEV of Steeltoe Enterprises we can use the formula ... View the full answer