Homework Answers
Total debt=current debt+long term debt
=65+35=$100
Equity multiplier=Total assets/equity
Total assets=2.22*Equity
Total assets=debt+equity
2.22*equity=debt+equity
debt=2.22*equity-equity
=1.22*equity
Hence equity=(100/1.22)=$81.9672131(Approx)
Hence total assets=100+81.9672131
=$182(Approx).
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