Sports and More Inc. has total assets of $162,500. If total equity is $72,250, find the debt-to-assets ratio. (Round to the nearest hundredth)

Name: Sports and More Inc. has total assets of $162,500. If total equity is $72,250, find the debt-to-assets ratio. (Round to the nearest hundredth)
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Quizplus · Accepted Answer

Debt-to-assets ratio = (Total assets - Total equity) / Total assets= ($162,500 - $72,250) / $162,500= $90,250 / $162,500= 0.5556= 0.56 (rounded to the nearest hundredth)