Given the following Year 12 balance sheet data for a footwear company:

Balance Sheet DataCash on Hand$ 15,000Total Current Assets130,000Total Fixed Assets290,000Total Assets$420,000Accounts Payable$ 20,000Overdraft Loan Payable01-Year Bank Loan Payable5,000Current Portion of Long-Term Bank Loans22,000Total Current Liabilities47,000Long-Term Bank Loans Outstanding153,000Total Liabilities200,000Shareholder Equity:Year 11BalanceYear 12Change Common Stock20,000020,000Additional Capital120,0000120,000Retained Earnings60,00020,00080,000Total Shareholder Equity200,000+20,000220,000Total Liabilities and Shareholder Equity$420,000Based on the above figures and the definition of the debt-assets ratio presented in the Help section for p. 5 of the Footwear Industry Report, the company’s debt-assets ratio (rounded to 2 decimal places) is0.

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18-04-23 | 12:48:24

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