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The following information is available from the most recent financial statements of the Attaché Corporation: Total Assets $ 800,000 Net Income 120,000 Average total liabilities 400,000 Sales revenue 1,500,000 500,000 Total liabilities Average total assets 700,000 What is the debt-to-asset ratio?

The following information is available from the most recent financial statements of the Attaché Corporation: Total Assets $ 800,000 Net Income 120,000 Average total liabilities 400,000 Sales revenue 1,500,000 500,000 Total liabilities Average total assets 700,000 What is the debt-to-asset ratio?

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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What is the debit to asset ratio?

The following information is available from the most recent financial statements of the Attaché Corporation: Total Assets $ 800,000 Net Income 120,000 Average total liabilities 400,000 Sales revenue 1,500,000 Total liabilities 500,000 Average total assets 700,000 What is the debt-to-asset ratio? Multiple Choice 571%6 62.5% 48 of 50 Next > <Prev
Transcribed Image Text:The following information is available from the most recent financial statements of the Attaché Corporation: Total Assets $ 800,000 Net Income 120,000 Average total liabilities 400,000 Sales revenue 1,500,000 Total liabilities 500,000 Average total assets 700,000 What is the debt-to-asset ratio? Multiple Choice 571%6 62.5% 48 of 50 Next > <Prev
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