Henderson Corporation has a debt-to-equity ratio of 0.65. It has total shareholders' equity of $3.8 million and current liabilities of $920,000. How much long-term debt is outstanding? A. $1,550,000 B. $2,470,000 C. $3,800,000 D. $4,720,000
Henderson Corporation has a debt-to-equity ratio of 0.65. It has total shareholders' equity of $3.8 million and current liabilities of $920,000. How much long-term debt is outstanding? A. $1,550,000 B. $2,470,000 C. $3,800,000 D. $4,720,000
Chapter3: Analysis Of Financial Statements
Section: Chapter Questions
Problem 1STP
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Transcribed Image Text:Henderson Corporation has a debt-to-equity ratio of 0.65. It has total shareholders' equity of
$3.8 million and current liabilities of $920,000. How much long-term debt is outstanding?
A. $1,550,000
B. $2,470,000
C. $3,800,000
D. $4,720,000
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