In 2024, Atlas Technologies Inc. reported an EBIT of $950,000; $2.4 million in shareholder's equity; accounts payable balance of $410,000; and $650,000 in total liabilities. What was the company's debt-to-equity ratio for 2024? a) 0.38 b) 0.27 c) 0.17 d) 0.31

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
icon
Related questions
Question

What is the correct answer with accounting

In 2024, Atlas Technologies Inc. reported an EBIT of $950,000; $2.4 million in
shareholder's equity; accounts payable balance of $410,000; and $650,000 in
total liabilities. What was the company's debt-to-equity ratio for 2024?
a) 0.38
b) 0.27
c) 0.17
d) 0.31
Transcribed Image Text:In 2024, Atlas Technologies Inc. reported an EBIT of $950,000; $2.4 million in shareholder's equity; accounts payable balance of $410,000; and $650,000 in total liabilities. What was the company's debt-to-equity ratio for 2024? a) 0.38 b) 0.27 c) 0.17 d) 0.31
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning