Quick answer of this accounting questions Blue Corporation has $4,500,000 in total liabilitiesand $7,000,000 in total assets as of December 31,2024. Of Blue's total liabilities, $800,000 is long-term. Calculate Blue's debt to assets ratio and itslong-term debt to equity ratio.

Step 1: Definition of Debt to Assets RatioThe debt to assets ratio measures the proportion of total…

Answered: Blue Corporation has $4,500,000 in…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 11GI

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Blue Corporation has $4,500,000 in total liabilities and $7,000,000 in total assets as of December 31, 2024. Of Blue's total liabilities, $800,000 is long- term. Calculate Blue's debt to assets ratio and its long-term debt to equity ratio.