The Pelican Resort Hotel reported a debt to equity ratio of 1.75 at the end of...
The Pelican Resort Hotel reported a debt to equity ratio of 1.75 at the end of 2008. If the firm’s total debt at the end of 2008 was $25 million, what was the total owners’ equity for the Pelican Resort Hotel at the end of 2008?
Homework Answers
debt to equity ratio=debt/equity
Hence total owners’ equity for the Pelican Resort Hotel at the end of 2008=($25 million/1.75)
which is equal to
=$14.29 million(Approx).
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