Financial accounting Bright Electronics reported a debt-to-equity ratio of 2.25 times at the end of 2019. If the firm'stotal debt at year-end was $12.50 million, how much equity does Bright Electronics have?A. $5.56 millionB. $27.81 millionC. $4.00 millionD. $14.00 million

Step 1: Define Debt-to-Equity RatioThe debt-to-equity ratio is a financial metric used to measure…

Answered: Bright Electronics 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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Bright Electronics reported a debt-to-equity ratio of 2.25 times at the end of 2019. If the firm's total debt at year-end was $12.50 million, how much equity does Bright Electronics have? A. $5.56 million B. $27.81 million C. $4.00 million D. $14.00 million