Paper Clip Office Supply had $24 000 000 in sales last year.Its total asset turnover was 3.0.Interest expense was $100 000 (5% on its $2 000 000 of debt).The company is financed entirely with debt and common equity.What is Paper Clip's debt ratio?

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The Answer of Paper Clip Office Supply had $24 000 000 in sales last year.Its total asset turnover was 3.0.Interest expense was $100 000 (5% on its $2 000 000 of debt).The company is financed entirely with debt and common equity.What is Paper Clip's debt ratio?

Paper Clip Office Supply Had $24 000 000 in Sales