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Phoenix Corporation's most recent balance sheet reported: | Total assets | $4.2 million || Total liabilities | $2.5 million || Total equity | $1.7 million | Its debt to equity ratio is: a. 0.88 b. 1.47 c. 2.47 d. 0.40

Phoenix Corporation's most recent balance sheet reported: | Total assets | $4.2 million || Total liabilities | $2.5 million || Total equity | $1.7 million | Its debt to equity ratio is: a. 0.88 b. 1.47 c. 2.47 d. 0.40

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 30BEB: Klynveld Companys balance sheet shows total liabilities of 94,000,000, total stockholders equity of...
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Phoenix Corporation's most recent balance sheet reported: | Total assets | $4.2 million || Total liabilities | $2.5 million || Total equity | $1.7 million | Its debt to equity ratio is: a. 0.88 b. 1.47 c. 2.47 d. 0.40
Transcribed Image Text:Phoenix Corporation's most recent balance sheet reported: | Total assets | $4.2 million || Total liabilities | $2.5 million || Total equity | $1.7 million | Its debt to equity ratio is: a. 0.88 b. 1.47 c. 2.47 d. 0.40
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