Tiggie's Dog Toys, Incorporated, reported a debt-to-equity ratio of 1.25 times at the end of the year. If the firm's total assets at year-end were $33.30 million, how much of its assets are financed with debt and how much with equity? Note: Do not round intermediate calculations. Enter your answer in millions of dollars rounded to 3 decimal places. Answer is complete but not entirely correct. Total debt $ 14.800 x million Total equity $ 18.500 million
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- Clayton Industries has the following account balances: Current assets Noncurrent assets The company wishes to raise $45,000 in cash and is considering two financing options: Clayton can sell $45,000 of bonds payable, or it can issue additional common stock for $45,000. To help in the decision process, Clayton's management wants to determine the effects of each alternative on its current ratio and debt-to-assets ratio. Required a-1. Compute the current ratio for Clayton's management. Note: Round your answers to 2 decimal places. Currently If bonds are issued If stock is issued $ 22,000 Current liabilities 77,880 Noncurrent liabilities stockholders' equity Currently If bonds are issued If stock is issued Current Ratio 2.44 to 1 a-2. Compute the debt-to-assets ratio for Clayton's management. Note: Round your answers to 1 decimal place. Bonds Stock to 1 to 1 Debt to Assets Ratio Additional Retained Earnings $ 9,000 50,000 48,888 % % % b. Assume that after the funds are invested, EBIT…Whitten Corporation's balance sheet shows the following amounts: current assets, $200,000; current liabilities, $80,000; bonds payable, $155,000; and lease obligations, $25,000. Total stockholders' equity is $120,000. Calculate the debt to equity ratio. Round your answer to two decimal placesIn a recent year’s financial statements, Home Depot reported the following: Total liabilities = $38,633 million and Total assets = $42,966 million. Compute and interpret Home Depot’s debt ratio (assume competitors average a 60.0% debt ratio).
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