Happy Paws Pet Food Corporation reported a debt-to-equity ratio of 1.25 times at the end of 2024. If the firm's total debt at year-end was $48 million, how much equity does Happy Paws have on its balance sheet? (Write the answer in millions of dollars to 2 decimal places.)

Happy Paws Pet Food Corporation reported a debt-to-equity ratio of 1.25 times at the end of 2024. If the firm's total debt at year-end was $48 million, how much equity does Happy Paws have on its balance sheet? (Write the answer in millions of dollars to 2 decimal places.)

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 2P: Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in...

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Need Help. General accounting

Happy Paws Pet Food Corporation reported a debt-to-equity ratio of 1.25
times at the end of 2024. If the firm's total debt at year-end was $48 million,
how much equity does Happy Paws have on its balance sheet? (Write the
answer in millions of dollars to 2 decimal places.)

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