Mitchell Florists & Co.reported assets of $1,000 and equity of $450.What is its debt ratio? (Round your percentage answer to two decimal places. )

Name: Mitchell Florists & Co.reported assets of $1,000 and equity of $450.What is its debt ratio? (Round your percentage answer to two decimal places. )
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Question

Quizplus · Accepted Answer

Total liabilities = $1,000 ? $450 = $550
Debt ratio = Total liabilities / Total assets
Debt ratio = $550 / $1,000 = 0.55 or 55.00%