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
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
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text: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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