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Slav-nsk [51]
3 years ago
10

Emery Corporation Balance Sheet Income Statement​Assets:Cash ​$250,000​Sales​ (all credit) ​ $8,000,000Accounts receivable ​450,

000Cost of goods sold ​(4,000,000)Inventory ​500,000Operating expense ​(2,900,000)Net fixed assets ​2,100,000Interest expense ​(150,000)Total assets ​$3,300,000Income taxes ​(380,000)Net income ​$570,000Liabilities and​ owners' equity:Accounts payable ​$100,000​Notes payable    ​450,000Longminus−term debt1,050,000​Owners' Equity ​1,700,000Total liabilities and​ owner's equity ​$3,300,000Based on the information in Table the debt ratio is:________.A. ​40.24%.B. ​48.48%.C. ​53.43%.D. ​18.38%.
Business
1 answer:
san4es73 [151]3 years ago
4 0

Answer: B. ​48.48%

Explanation:

Debt ratio = Total Liabilities/ Total Assets

Total liabilities = Accounts payable ​+ ​Notes payable + Long−term debt

= 100,000 + 450,000 + 1,050,000

= $1,600,000

Total Assets = $3,300,000

Debt ratio = 1,600,000/3,300,000

= 48.48%

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