Gabriel Richards' net worth is $120,000, excluding his home. His liabilities of $54,000 include all of his credit card balances and the balance due on his auto loan and home improvement loan. His townhouse has a market value of $220,000 and he owes $190,000 to his mortgage company. What is Gabriel's debt-to-equity ratio? 0.65 0.74 0.45 0.35
Gabriel Richards' net worth is $120,000, excluding his home. His liabilities of $54,000 include all of his credit card balances and the balance due on his auto loan and home improvement loan. His townhouse has a market value of $220,000 and he owes $190,000 to his mortgage company. What is Gabriel's debt-to-equity ratio? 0.65 0.74 0.45 0.35
Chapter6: Business Expenses
Section: Chapter Questions
Problem 69P
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Transcribed Image Text:Gabriel Richards' net worth is $120,000, excluding his home. His liabilities of $54,000 include
all of his credit card balances and the balance due on his auto loan and home improvement
loan. His townhouse has a market value of $220,000 and he owes $190,000 to his mortgage
company. What is Gabriel's debt-to-equity ratio?
0.65
0.74
0.45
0.35
0.28
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