Homework Answers
Answer: 31: 69 and 2.95
Working Notes:
Debt % = Total Liabilities / Total Liabilities & Shareholders' Equity = ($1,49,000 / $4,85,000) x 100 = 31%
Equity % = Total Shareholders Equity at the end of year 9 / Total Liabilities & Shareholders' Equity
= ($3,36,000 / $ 4,85,000) x 100 = 69%
Debt to Equity percentages = 31% : 69% = 31 : 69
Current Ratio = Current Assets / Current Liabilities = $2,45,000 / $ 83,000 = 2.95
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