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In 2011, Utility Queen recorded an EBIT (Earning before Income Tax) of $535,000; $1.35 million in shareholder's equity; accounts payable balance of $250,000; and $385,000 in total liabilities. What was the company's debt-to-equity ratio for 2011? a) 0.33 b) 1.54 c) 0.29

In 2011, Utility Queen recorded an EBIT (Earning before Income Tax) of $535,000; $1.35 million in shareholder's equity; accounts payable balance of $250,000; and $385,000 in total liabilities. What was the company's debt-to-equity ratio for 2011? a) 0.33 b) 1.54 c) 0.29

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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What was the company's debt-to-equity ratio?

In 2011, Utility Queen recorded an EBIT (Earning before Income Tax) of $535,000; $1.35 million in shareholder's equity; accounts payable balance of $250,000; and $385,000 in total liabilities. What was the company's debt-to-equity ratio for 2011? a) 0.33 b) 1.54 c) 0.29
Transcribed Image Text:In 2011, Utility Queen recorded an EBIT (Earning before Income Tax) of $535,000; $1.35 million in shareholder's equity; accounts payable balance of $250,000; and $385,000 in total liabilities. What was the company's debt-to-equity ratio for 2011? a) 0.33 b) 1.54 c) 0.29
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