Survey of Accounting (Accounting I)
Solutions
Survey of Accounting (Accounting I)
Twenty metrics of liquidity, solvency, and profitability
The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8
Instructions
Debt ratio
Concept Introduction:
Debt Ratio:
Debt ratio is the relationship between the Total liabilities and Total assets of a corporation. Debt ratio shows the part of assets financed by debts. It is calculated by dividing total liabilities by total assets. The formula of debt ratio is as follows:
To Calculate:
The Debt Ratio.
The Debt Ratio is calculated as follows:
| 20Y8 | 20Y7 | |
| Total Liabilities (A) | $ 2,600,000 |
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