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3 years ago

15

Mitchell Florists reported assets of $1,400 and equity of $350. What is its debt ratio? (Round your percentage answer to two dec

imal places.)

1 answer:

Luba_88 [7]3 years ago

8 0

Answer:

Debt ratio = 3 : 1

Explanation:

Asset = Capital

Capital = Debt + Equity

I.e Asset = Debt + Equity

1400 = D + 350

D = 1050

Debt ratio = Debt / Equity

Debt ratio = 1050/350

Debt ratio = 3 : 1

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