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Redstone Enterprises has the following data on its most recent balance sheet: ⚫ Total assets: $35,600,000 • Total liabilities: $20,040,000 . Total equity: $15,560,000 What is the debt-to-equity ratio for the period?

Redstone Enterprises has the following data on its most recent balance sheet: ⚫ Total assets: $35,600,000 • Total liabilities: $20,040,000 . Total equity: $15,560,000 What is the debt-to-equity ratio for the period?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Redstone Enterprises has the following data on its most recent balance sheet: ⚫ Total assets: $35,600,000 • Total liabilities: $20,040,000 . Total equity: $15,560,000 What is the debt-to-equity ratio for the period?
Transcribed Image Text:Redstone Enterprises has the following data on its most recent balance sheet: ⚫ Total assets: $35,600,000 • Total liabilities: $20,040,000 . Total equity: $15,560,000 What is the debt-to-equity ratio for the period?
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