Need Answer please provide solution with calculation In 2012 sales revenue was $120 and net income was $12.1/1/12 12/31/12Current Assets$20$24Long-Term Assets$70$86Current Liabilities$8$10Long-Term Liabilities $32$40Equity$50$60Compute the Debt-to-equity ratio in 12/31/12.

Step 1: Define Assets:In assets of the company can be divided into two categories namely current…

Answered: In 2012 sales revenue was $120 and net…

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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In 2012 sales revenue was $120 and net income was $12. 1/1/12 12/31/12 Current Assets $20 $24 Long-Term Assets $70 $86 Current Liabilities $8 $10 Long-Term Liabilities $32 $40 Equity $50 $60 Compute the Debt-to-equity ratio in 12/31/12.