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Using the information below, calculate the Debt ratio for Rutgers Inc. based on the information...

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Accounting

Using the information below, calculate the Debt ratio for Rutgers Inc. based on the information below (if necessary round to the nearest hundredth)

Rutgers Inc.

Balance Sheet

At December 31. 2021

Cash = $17,000

Accounts Receivable = $28,500

Inventories = $75,000

Total current assets = $120,500

Property Plant & Equip. = $250,000

Total assets = $305,500

Accounts Payable = $40,500

Salaries Payable = $55,000

Debt to bank = $275,000

Total liabilities = $320,500

Group of answer choices

1.05

.95

1.36

.37

Answer & Explanation Solved by verified expert
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