Toggle's Pet Supplies, Inc. reported a debt-to-equity ratio of 1.85 times at the end of 2022. If the firm's total debt at year-end was $42 million, how much equity does Toggle's have on its balance sheet? (Write the answer in millions of dollars to 2 decimal places.)

Toggle's Pet Supplies, Inc. reported a debt-to-equity ratio of 1.85 times at the end of 2022. If the firm's total debt at year-end was $42 million, how much equity does Toggle's have on its balance sheet? (Write the answer in millions of dollars to 2 decimal places.)

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 2P: Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in...

See similar textbooks

Related questions

Q: Rembrandt Sports Inc. Providees the following inventory information: please answer this financial…

A: To determine the two limits to market value (ceiling and floor) for snowboards under the…

Q: Abc

A: Step 1: Definition of MarkupMarkup is the amount added to the cost of a product to determine the…

Q: I need help

A: Step 1: Define Gross Profit MarginThe gross profit margin ratio is more helpful for monitoring a…

Q: What is the actual cost per yard of fabric purchased?

A: Step 1: Definition of Actual Cost Per YardThe actual cost per yard of fabric purchased is calculated…

Q: What was the net income for this general accounting question?

A: To calculate Tyrone Outdoors' net income for 2023, follow these steps: 1. Calculate Gross…

Q: What is the company's price earnings ratio on these financial accounting question?

A: Step 1:Price Earnings (P/E) Ratio can be calculated by dividing the stock price per share by the…

Q: 4 POINT

A: Explanation of Purchases:Purchases refer to the total inventory acquired by a business during a…

Q: Profit?

A: 1. Total profit = $2402. Profit percentage = 30%3. Let's find the total cost: Total cost = Total…

Q: Beginning inventory??

A: Ending Inventory=Beginning Inventory+Purchases−Cost of Goods Sold (COGS)Since we don't have the…

Q: The monthly cost (in dollars) of a data plan for Mercury Communications is a linear function of the…

Q: Sub: general accounting

A: Explanation of Gross Margin Ratio:The Gross Margin Ratio is a financial metric that measures the…

Q: Answer this question general accounting

A: To determine how much the owner contributed (owner, capital), we can use the accounting…

Q: What is the firm's equity on these financial accounting question?

A: To calculate the firm's equity, we use the basic accounting equation: Equity = Total Assets - Total…

Q: Please provide accurate answer

A: Step 1: Step 2: Step 3: Step 4:

Q: What were the total inventory purchases on these financial accounting question?

A: Step 1: Define Inventory PurchasesInventory Purchases refer to the total amount of goods a company…

Q: What is the depreciation expense to be recorded on December 31, 2021 for this financial accounting…

A: Step 1: Define Straight-Line DepreciationStraight-line depreciation is a method of allocating the…

Q: 5 PTS

A: Explanation of Book Value: Book value is the current worth of an asset as shown on the company's…

Q: General accounting

A: To calculate the finance charge on Rachel's loan, you need to find the total amount paid over the…

Q: General Accounting

A: Step 1: Analysis of information givenStandard price per pound = $3Actual quantity used = 20,800…

Q: Your company purchases $4,500 of supplies, recording them as assets. At year end, a physical count…

A: Step 1: First, we need to account how many supplies were used or sold for the year. We have a total…

Q: Hepl

A: Step 1: Calculation of Overhead Application RateStep 2: Calculation of estimated direct labor…

Q: The accounting equation states: a. Assets + Liabilities = Stockholders' Equity b. Assets Liabilities…

A: This is the fundamental accounting equation that represents the relationship between a company's…

Q: ???

A: The P/E ratio, or price-to-earnings ratio, is a valuation ratio that compares a company's current…

Q: On January 1, 2020, Nexus Technologies purchased a machine for $15,000. The machine was estimated to…

A: Step 1: Introduction to property, plant and equipmentProperty, plant, and equipment refers to those…

Q: Calculate Accounting income after tax?

A: To calculate Summit Enterprises' taxable income for the year, we need to account for the temporary…

Q: Abc ? Accounting

A: Step 1: Definition of Break-even AnalysisBreak-even analysis helps businesses determine the point…

Q: Give me answer

A: Explanation of Current Liabilities:Current liabilities are short-term financial obligations that a…

Q: Find Standard rate hour

A: Explanation of Standard Direct Labor Rate Per Hour:The Standard Direct Labor Rate Per Hour…

Q: help me this question solution

A: 1.Profit Margin for the ChildThe child earns $3 for purchasing $100 worth of groceries.The child's…

Q: Need step by step answer

A: Explanation of Standard Direct Materials Cost:The Standard Direct Materials Cost is the estimated…

Q: Compute the total, price, and quantity labor variance?

A: Step 1: Definition of Labor VariancesLabor variances measure the difference between standard labor…

Q: How much is the budget of good sold for 2024?

A: To calculate the budgeted cost of goods sold (COGS), we use the following formula:COGS=Cost of Goods…

Q: Provide answer

A: Explanation of Contribution Margin Per Unit:Contribution margin per unit is the amount of money left…

Q: Need answer of this problem

A: To determine the impact on net income, we need to calculate the book value of the machinery and the…

Q: Last year the return on total assets in Jasper Corporation was 12%. The total assets were 2.8…

A: Explanation of Return on Total Assets (ROA): Return on Total Assets is a profitability ratio that…

Q: Opereting income will increase by ?? Accounting

A: Step 1: Definition of Contribution Margin and Operating IncomeContribution Margin (CM) is the amount…

Q: Ans financial accounting question

A: Step 1: Define Operating Cash Flow (OCF)Operating Cash Flow (OCF) measures the net cash inflows from…

Q: Not use ai solution given correct answer

A: Equity Needed=50%×$1,100,000=$550,000The residual dividend policy states:Dividends=Total…

Q: need help this questions

A: To calculate the volume of sales in units required to achieve the target profit, we can use the…

Q: What is the amount of the conversion costs?

A: A. Prime CostsPrime costs are the sum of direct materials and direct labor.Prime Costs=Direct…

Q: I need this question answer general Accounting

A: Step 1: Define Present Value of an AnnuityThe Present Value of an Annuity (PVA) is the value of a…

Q: Hyuga traders reported the following financial data?

A: To calculate the sales price per unit, we can use the following steps: 1. Calculate total sales…

Q: Compute the following requirements for this financial accounting question

A: Step 1: Define Standard Direct Materials CostThe standard direct materials cost per unit represents…

Q: Tutor need step by step answer

A: To calculate Summit Enterprises' taxable income, we need to adjust the pre-tax accounting income by…

Q: Please help me solve this general accounting question

A: Step 1: Introduction to accounts receivableAccounts receivable refers to the customers who have…

Q: Financial Accounting Question please solve

A: Step 1: Recall the DSO formula.= (average accounts receivable / net sales revenue) x 365 days Step…

Q: 4 PTS

A: Explanation of Cash Received from Customers:Cash received from customers refers to the actual cash…

Q: Provide correct answer this general accounting question

A: Step 1: Define Standard Overhead Rate per UnitThe standard overhead rate per unit is the…

Q: What is the depreciation expense for 2022 on these financial accounting question?

A: Step 1: Define Straight-Line DepreciationStraight-line depreciation is a method of allocating the…

Q: How much meterial price variance?

A: Explanation of Material Price Variance:Material price variance measures the difference between the…

Question

How much equity does Toggle's have on its balance sheet for this financial accounting question?

Toggle's Pet Supplies, Inc. reported a debt-to-equity ratio
of 1.85 times at the end of 2022. If the firm's total debt at
year-end was $42 million, how much equity does
Toggle's have on its balance sheet?
(Write the answer in millions of dollars to 2 decimal
places.)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

none
Need answer the question
Please give answer for this question
Debt Management Ratio's Trina's Trikes Inc reported a debt to equity ratio of 1.91 times at the end of 2018. If the forms total debt at year - end was $10.90 million, how much equity does Trina's Trikes Have?
do fast answer of this accounting question
Calculate the debt-to-equity ratio for Arius for
kindly help me with accounting question
Please give me answer
In 2018, Caterpillar Inc. had about 730 million shares outstanding. Their book value was $30.0 per share, and the market price was $87.00 per share. The company's balance sheet shows that the company had $30.50 billion of long-term debt, which was currently selling near par value. a. What was Caterpillar's book debt-to-value ratio? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.) b. What was its market debt-to-value ratio? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.) c. Which measure should you use to calculate the company's cost of capital? а. Book debt-to-value ratio b. Markeet debt-to-value ratio C. Measure
In 2018, Caterpillar Inc. had about 730 million shares outstanding. Their book value was $30.0 per share, and the market price was $87.00 per share. The company’s balance sheet shows that the company had $30.50 billion of long-term debt, which was currently selling near par value. a. What was Caterpillar’s book debt-to-value ratio? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.) b. What was its market debt-to-value ratio? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.) c. Which measure should you use to calculate the company’s cost of capital?
Want answer with calculation
In 2018, Caterpillar Inc. had about 710 million shares outstanding. Their book value was $38.0 per share, and the market price was $85.00 per share. The company's balance sheet shows that the company had $29.50 billion of long-term debt, which was currently selling near par value. a. What was Caterpillar's book debt-to-value ratio? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.) b. What was its market debt-to-value ratio? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.) c. Which measure should you use to calculate the company's cost of capital? a. Book debt-to-value ratio b. C. Markeet debt-to-value ratio Measure