Tiggie's Dog Toys, Inc., reported a debt-to-equity ratio of 1.74 times at the end of 2021. If the firm's total debt at year-end was $26 million, how much equity does Tiggie's have on its balance sheet?

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
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Tiggie's Dog Toys, Inc., reported a debt-to-equity ratio of 1.74
times at the end of 2021. If the firm's total debt at year-end
was $26 million, how much equity does Tiggie's have on its
balance sheet?
Transcribed Image Text:Tiggie's Dog Toys, Inc., reported a debt-to-equity ratio of 1.74 times at the end of 2021. If the firm's total debt at year-end was $26 million, how much equity does Tiggie's have on its balance sheet?
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