The following information was taken from Gordon Company's balance sheet: Total assets .......................................... $500,000 Long-term liabilities ................................
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Total assets .......................................... $500,000
Long-term liabilities ................................ 200,000
Total liabilities ....................................... 300,000
Total shareholders' equity .......................... 200,000
Determine the company's debt ratio.
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Related Book For
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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