Maxine's Equipment Company had 400,000 in total assets, 275,000 ...

[ARLKQ]

Maxine's Equipment Company had 400,000 in total assets, 275,000 in total liabilities, and 125,000 in shareholders' equity. Interest expense for the period was 15,050. Income from operations was 80,000. Calculate the debt-to-equity ratio.
 
  Round your answer to the nearest percentage.
  What will be an ideal response?

Question 2

After a bank reconciliation is completed, journal entries are prepared for items in the balance per company'srecords as well as items in the balance per bank statement.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[firehawk60]

Answer to Question 1

275,000 / 125,000 = 220

Answer to Question 2

False

[ARLKQ]

Great answer, keep it coming

[dreamfighter72]

Thanks for the timely response, appreciate it