At the beginning of the current year, Snell Co. total assets were $264,000 and its total liabilities were $182,200. During the y

Question

3 years ago

6

At the beginning of the current year, Snell Co. total assets were $264,000 and its total liabilities were $182,200. During the y

ear, the company reported total revenues of $109,000, total expenses of $84,000 and dividends of $13,000. There were no other changes in equity during the year and total assets at the end of the year were $276,000. The company's debt ratio at the end of the current year is:

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