On December 31,Copper Corporation has the following data available: What is the leverage ratio? (Round your final answer to two decimal places. )

Name: On December 31,Copper Corporation has the following data available: What is the leverage ratio? (Round your final answer to two decimal places. )
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Question

On December 31,Copper Corporation has the following data available:  What is the leverage ratio? (Round your final answer to two decimal places. )

Quizplus · Accepted Answer

Average total assets = ($820,000 + $760,000)÷ 2 = $790,000
Average total common stockholders' equity = ($570,000 + $500,000)÷ 2 = $535,000
Leverage ratio = $790,000 ÷ $535,000 = 1.48%

On December 31,Copper Corporation Has the Following Data Available