25 Jul WHAT IS ITS DEBT-TO-ASSETS RATIO?
This question has me going absolutely bonkers! It makes no sense! I think Im missing something. The Show more This question has me going absolutely bonkers! It makes no sense! I think Im missing something. The book says that its a simple problem (so maybe Im a simple person): Bartley Barstools has an equity multiplier of 2.4 and its assets are financed with some combination [which the book doesnt provide] of long-term debt and common equity. What is its debt-to-assets ratio? Yet with this being the only information somehow the book came up with an answer of 58.33%? How did the book come up with 58.33%? Is there some information missing for the problem? The only information I see is the equity multiplier and it asks for the Debt-Assets Ratio. This is the best I can surmise where A = Assets TCE = Total Common Equity DR = Debt Ratio TD = Total Debt EM = Equity Multiplier A/TCE = 2.4 A = 2.4(TCE) DR = TD / 2.4(TCE) How can you get a 58.33% out of that? Am I missing something? No constants are provided for any of its factors. Show less
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