Math Problem Statement

A balance sheet balances assets with their sources of debt and equity financing. If a corporation has assets equal to $ 4 comma 400 comma 000

and a debt ratio of 74 ​%, how much debt does the corporation have on its​ books? Question content area bottom Part 1 The amount of debt the corporation has on its books is ​$enter your response here . ​(Round to the nearest​ dollar.)

Solution

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Math Problem Analysis

Mathematical Concepts

Algebra
Financial Ratios

Formulas

Debt Ratio = Total Debt / Total Assets
Total Debt = Debt Ratio * Total Assets

Theorems

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Suitable Grade Level

Grades 10-12