Jennings company has total assets of $445 million. its total liabilities are $120.5 million. its equity is $324.5 million. calculate the debt ratio. (round your answer to 1 decimal place.)

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jopinkypie1915 jopinkypie1915

08-06-2022
Business

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Jennings company has total assets of $445 million. its total liabilities are $120.5 million. its equity is $324.5 million. calculate the debt ratio. (round your answer to 1 decimal place.)

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kanikabajaj294 kanikabajaj294 · Answer 1 · 2022-06-22T07:35:48+02:00

Jennings company has total assets of $445 million and its liabilities are $120.5 million. The debt ratio is 2.71%.

What is the debt ratio?

The debt ratio refers to the financial ratio indicating the percentage of a company's assets that are provided via debt.

Jennings company has total assets of $445 million and total liabilities of $120.5. The debt ratio that is calculated by dividing total liabilities and assets is 2.70%.

Therefore, the debt ratio is 2.70%.

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