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Alexeev081 [22]
2 years ago
14

Jennings Co. has total assets of $433.0 million. Its total liabilities are $114.5 million. Its equity is $318 million. Calculate

the debt ratio. (Round your answer to 1 decimal place.)
Business
1 answer:
olasank [31]2 years ago
4 0

Answer: 26.4%

Explanation:

The debt ratio is used to show how much of the company's assets is funded by debt.

It is calculated by the formula:

= Total liabilities / Total assets

= 114.5 / 433.0

= 0.2644

= 26.4%

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