Consider the following information for James Inc. for the Year 2014: 2014 Assets Cash 55,600 Accounts...
Consider the following information for James Inc. for the Year 2014:
| 2014 | |
| Assets | |
| Cash | 55,600 |
| Accounts Receivable | 140,400 |
| Inventory | 185,400 |
| Land | 90,000 |
| PP&E | 225,000 |
| Accumulated Depreciation | (117,000) |
| Total Assets | 579,400 |
| Liabilities | |
| Accounts Payable | 151,200 |
| Accrued Expenses | 36,000 |
| Notes Payable | 52,000 |
| Total Liabilities | 239,200 |
| Stockholders' Equity | |
| Common Stock | 18,000 |
| Additional Paid-in Capital | 115,200 |
| Beginning Retained Earnings | 145,800 |
| Net Income | 97,200 |
| Dividends | 36,000 |
| Ending Retained Earnings | 207,000 |
| Total Stockholders' Equity | 340,200 |
| Total Liabilities and Equity | 579,400 |
1. Calculate James' Debt-to-Equity Ratio
2. Calculate James' Debt Ratio
Homework Answers
1;debt to equity ratio=Total liabilities/Total equity
=(239200/340200)=0.7031(Approx).
2.Debt ratio=Total liabilities/Total assets
=(239200/579400)=0.4128(Approx).
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