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14 November, 11:44

Converse Florists & Co. reported assets of $ 1 comma 200 and equity of $ 350. What is its debt ratio? (Round your percentage answer to two decimal places.)

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  1. 14 November, 12:39
    0
    70.83%

    Explanation:

    Given that,

    Company's assets = $1,200

    Equity = $350

    Dept = Reported assets - Company's equity

    = $1,200 - $350

    = $850

    Dept ratio = (Debt : Total assets) * 100

    = ($850 : $1,200) * 100

    = 0.7083 * 100

    = 70.83%

    Therefore, the Dept ratio of Converse Florists & Co. is 70.83%.
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