Brookman Inc's latest EPS was $2.75, its book value per share was $22.75, it had 315,000 shares outstanding, and its debt ratio
2 answers:
Answer:
Debt Outstanding = 5,630,635
Explanation:
Shares outstanding * book value per share = equity
315000 x 22.75 = 7,166,250
<u>where:</u>
assets = liab + equity
equity = 7,166,250
So we express asset in the debt ratio formula as the sum of liab and equity to be able to solve for liab
liab / (liab + 7,166,250) = 0.44
liab - .44liab = 7,166,250*0.44
liab = 7,166,250*.44/.56 = 5,630,635
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