Provide correct answer general accounting question ABC Manufacturing reported a debt-to-equity ratio of 1.25times at the end of 2024. If the firm's total equity at year-endwas $8 million, what is ABC Manufacturing's total debt?a. $6.4 millionb. $10 millionc. $9.25 milliond. $8 million

Step 1: Define Debt-to-Equity RatioThe Debt-to-Equity Ratio is a financial metric that compares a…

Answered: ABC Manufacturing reported a…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 23MCQ

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ABC Manufacturing reported a debt-to-equity ratio of 1.25 times at the end of 2024. If the firm's total equity at year-end was $8 million, what is ABC Manufacturing's total debt? a. $6.4 million b. $10 million c. $9.25 million d. $8 million