If Orem Corporation's current liabilities are $254,840, its long-term liabilities are $1,327,560, and its working capital...
If Orem Corporation's current liabilities are $254,840, its long-term liabilities are $1,327,560, and its working capital is $356,800. If the corporation's debt-to-equity ratio is 0.46, total long-term assets are equal to:?
Homework Answers
Solution:
Current Assets = Working capital + current liabilities = $356,800 + $254,840 = $611,640
Debt to equity ratio = 0.46
Total liabilities / Total equity = 0.46
($254,840 + $1,327,560) / Total equity = 0.46
Total equity = $1,582,400 / 0.46 = $3,440,000
Total liabilities and equity = $1,582,400 + $3,440,000 = $5,022,400
Total assets = $5,022,400
Total long term assets = Total assets - Current assets = $5,022,400 - $611,640 = $4,410,760
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