what is the debt to equity ratio rounded to 2 decimal places? i keep getting 0.83 but it’s not correct. AssetsCurrent Assets:TMT, Inc.Balance SheetFor the year ended 12/31/20X1Cash and Cash EquivalentsShort-Term InvestmentsAccount ReceivableInventoryTotal Current AssetsProperty and EquipmentLong-Term InvestmentsGoodwillTotal Assets$300,000150,000150,0001,000,000$1,600,000LiabilitiesCurrent Liabilities:0Accounts PayableTaxes PayableTotal Current LiabilitiesLong-Term DebtOther$4,400,0001,500,000 Total LiabilitiesShareholders' EquityTotal Liabilities and$7,500,000 Shareholders' Equity$ 500,000250,000$750,000$2,000,000650,000$3,400,0004,100,000$7,500,000

DEBT TO EQUITY RATIO Debt to Equity Ratio is the Ratio Between Total Debt & Total Equity. Debt…

TMT, Inc. Balance Sheet For the year ended 12/31/20X1 Assets Current Assets: Cash and Cash Equivalents $ 300,000 Accounts Payable Short-Term Investments 150,000 Taxes Payable Account Receivable 150,000 Total Current Liabilities Inventory 1,000,000 Total Current Assets $1,600,000 Property and Equipment Long-Term Investments Goodwill Total Assets Liabilities Current Liabilities: 0 Long-Term Debt Other $4,400,000 1,500,000 Total Liabilities Shareholders' Equity Total Liabilities and $7,500,000 Shareholders' Equity $ 500,000 250,000 $750,000 $2,000,000 650,000 $3,400,000 4,100,000 $7,500,000

TMT, Inc. Balance Sheet For the year ended 12/31/20X1 Assets Current Assets: Cash and Cash Equivalents $ 300,000 Accounts Payable Short-Term Investments 150,000 Taxes Payable Account Receivable 150,000 Total Current Liabilities Inventory 1,000,000 Total Current Assets $1,600,000 Property and Equipment Long-Term Investments Goodwill Total Assets Liabilities Current Liabilities: 0 Long-Term Debt Other $4,400,000 1,500,000 Total Liabilities Shareholders' Equity Total Liabilities and $7,500,000 Shareholders' Equity $ 500,000 250,000 $750,000 $2,000,000 650,000 $3,400,000 4,100,000 $7,500,000

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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