Camile Plastics Company had the following total assets,liabilities,and equity as of December 31. $$\begin{array} { | l | r | }
\hline \text { Assets } & \$ 430,000 \
\hline \text { Liabilities } & 132,000 \
\hline \text { Equity } & 298,000 \
\hline
\end{array}$$ What is the company's debt ratio as of December 31? (Round your percentage answer to two decimal places. )

Question

Camile Plastics Company had the following total assets,liabilities,and equity as of December 31. $$\begin{array} { | l | r | } 
\hline \text { Assets } & \$ 430,000 \
\hline \text { Liabilities } & 132,000 \
\hline \text { Equity } & 298,000 \
\hline
\end{array}$$ What is the company's debt ratio as of December 31? (Round your percentage answer to two decimal places. )

Quizplus · Accepted Answer

Debt ratio = Liabilities / Total assets= 132,000 / 430,000= 0.3070= 30.70%

Camile Plastics Company Had the Following Total Assets,liabilities,and Equity as of December