Answer:
Tiggie's equity on its balance sheet is $19,760, 479.042
Explanation:
Debt equity ratio refers to how much debt a company is using to finance its assets in relation to its shareholders' equity. It compares a company's total debt to its total equity.
It is calculated as:
Debt Equity ratio= Total liabilities/shareholders equity
Applying the formula to the question
Debt equity ratio = 1.67
Total liabilities = $33,000,000
Total equity = x
1.67 = $33,000,000/ x
cross multiply
1.67x =$33,000,000
divide both sides by 1.67
x = $33,000,000/1.67
x = $19,760, 479.042
The total equity is $19,760, 479.042
