Need answer the general accounting question not use ai and chatgpt Charger Company's most recent balance sheet reports total assets of$28,175,000, total liabilities of $15,925,000, and total equity of $12,250,000.The debt to equity ratio for the period is:A. 0.57B. 1.77C. 0.43D. 0.77E. 1.30

Step 1: Define Total EquityTotal equity consists of the balance of issued common stock, preferred…

Answered: Charger Company's most recent balance…

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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Charger Company's most recent balance sheet reports total assets of $28,175,000, total liabilities of $15,925,000, and total equity of $12,250,000. The debt to equity ratio for the period is: A. 0.57 B. 1.77 C. 0.43 D. 0.77 E. 1.30