I want to double check my work to see if I did it correctly. Please compare...

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Question

I want to double check my work to see if I did it correctly. Please compare my answers with yours, thank you.

XYZ has a total debt ratio of 0.53. What is its equity multiplier? Answer to two decimals. 2.13

3) Total-deltraho-1053 TOTO Tota O.s3 Totul 0 53 1.13 debt

Answer 1

Answer #1

Total debt ratio=Total debt/Total assets

Total debt=0.53Total assets

Total assets=Total debt+Total equity

Hence Total equity=(1-0.53)Total assets

=0.47Total assets

Equity mulitplier=Total assets/Total equity

=Total assets/0.47Total assets

=2.13(Approx).

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Answer 2

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