Can you help me solve this general accounting question using valid accounting techniques? Everest Technologies reports total assets of $3,200,000 and totalliabilities of $1,120,000 at the end of the fiscal year.What is Everest Technologies' Equity Ratio?a. 0.35b. 0.50c. 0.65d. 0.70

The Equity Ratio is calculated using the formula:Equity Ratio = (Total Equity) ÷ (Total…

Answered: Everest Technologies reports total…

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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Everest Technologies reports total assets of $3,200,000 and total liabilities of $1,120,000 at the end of the fiscal year. What is Everest Technologies' Equity Ratio? a. 0.35 b. 0.50 c. 0.65 d. 0.70