SportStyle Corp reported a debt to equity ratio of 2.8 times at the end of 2023. If the firm's total assets at year-end were $24.5 million, how much of their assets are financed with equity? a. $6.45 million b. $18.05 million c. $8.75 million d. $68.60 million

SportStyle Corp reported a debt to equity ratio of 2.8 times at the end of 2023. If the firm's total assets at year-end were $24.5 million, how much of their assets are financed with equity? a. $6.45 million b. $18.05 million c. $8.75 million d. $68.60 million

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 2P: Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in...

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Please provide this question solution general accounting

SportStyle Corp reported a debt to equity ratio of 2.8 times at the end of
2023. If the firm's total assets at year-end were $24.5 million, how much of
their assets are financed with equity?
a. $6.45 million
b. $18.05 million
c. $8.75 million
d. $68.60 million

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