The following information was available for the year ended December 31, 2013: Earnings before interest and taxes (operating income) $ 60,000 Net income $ 35,000 Interest expense 10,000 Total assets at year-end 200,000 Income tax expense 15,000 Total liabilities at year-end 120,000 Calculate the debt ratio at December 31, 2013.

The following information was available for the year ended December 31, 2013: Earnings before interest and taxes (operating income) $ 60,000 Net income $ 35,000 Interest expense 10,000 Total assets at year-end 200,000 Income tax expense 15,000 Total liabilities at year-end 120,000 Calculate the debt ratio at December 31, 2013.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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