Author Question: The 2021 and 2022 balance sheets for Ottoman Manufacturing Company appear below:20212022Current ... (Read 53 times)

mmmmm · **on:** Feb 5, 2023

The 2021 and 2022 balance sheets for Ottoman Manufacturing Company appear below:

2021

2022

Current Assets
Cash	$ 16,000	$ 15,000
Accounts receivable, net	20,000	19,000
Inventory	30,000	28,000
Total current assets	66,000	62,000
Plant & equipment, net	60,000	40,000
Total assets	$126,000	$102,000

Current liabilities	$ 20,000	$ 30,000
Noncurrent liabilities	60,000	40,000
Total liabilities	80,000	70,000
Stockholders' equity
Common stock	2,000	2,000
Additional paid-In capital	4,000	4,000
Retained earnings	40,000	26,000
Total stockholders' equity	46,000	32,000
Total liabilities and stockholders' equity	$126,000	$102,000

What is the debt ratio for 2022?
◦ 68.6%
◦ 61.4%
◦ 100%
◦ 39.2%

Harsh06 · **Reply #1 on:** Feb 5, 2023

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