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Bootyshaker Bootyshaker
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A month ago
The 2021 and 2022 balance sheets for Ottoman Manufacturing Company appear below:

​​20212022
Current Assets​​
  Cash$   16,000$   15,000
  Accounts receivable, net20,00019,000
  Inventory   30,000   28,000
Total current assets66,00062,000
Plant & equipment, net   60,000   40,000
Total assets$126,000$102,000
​​​
Current liabilities$  20,000$  30,000
Noncurrent liabilities    60,000    40,000
Total liabilities80,00070,000
Stockholders' equity​​
  Common stock2,0002,000
  Additional paid-In capital4,0004,000
  Retained earnings   40,000   26,000
Total stockholders' equity   46,000   32,000
Total liabilities and stockholders' equity$126,000$102,000

What is the debt ratio for 2022?

▸ 68.6%

▸ 61.4%

▸ 100%

▸ 39.2%
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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eeemmmeeemmm
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A month ago
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68.6%

$70,000 ÷ $102,000 = 68.6%
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Bootyshaker Author
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A month ago
Helped a lot
mkyoungs
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Brilliant ツ
dri
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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