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Question

The following information was taken from Sigmund Company's balance sheet:

$\begin{array}{lr}\text { Fixed assets (net) } & \$ 1,050,000 \\ \text { Long-term liabilities } & 750,000 \\ \text { Total liabilities } & 850,000 \\ \text { Total stockholders' equity } & 500,000\end{array}$

Determine the company's (a) ratio of fixed assets to long-term liabilities and (b) ratio of liabilities to stockholders' equity. Round to one decimal place.

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 5In this problem, we are asked to determine the following:

- ratio of fixed assets to long-term liabilities
- ratio of liabilities to stockholders' equity

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