Jakyje
Oct 24, 2010, 10:33 AM
Happy's Golf Corporation recently reported the following December 31 amounts in its financial statements (in thousands):
Prior Year Current Year
Income from operations 1,700 1,400
Net income 850 700
Total assets 10,000 9,000
Total stockholders' equity 8,000 7,500
Sales revenue 9,000 7,000
(a) Compute the debt-to-assets ratio for the current and prior years. (Round your answers to 1 decimal place. Omit the "%" sign in your response.)
I've tried everything like for the prior I've tried 10,000 = debts + 8,000
debts = 2,000/10,000 = .2 that is incorrect. I don't need the answer just help me figure out how to get to it. Every method I try is incorrect.
Prior Year Current Year
Income from operations 1,700 1,400
Net income 850 700
Total assets 10,000 9,000
Total stockholders' equity 8,000 7,500
Sales revenue 9,000 7,000
(a) Compute the debt-to-assets ratio for the current and prior years. (Round your answers to 1 decimal place. Omit the "%" sign in your response.)
I've tried everything like for the prior I've tried 10,000 = debts + 8,000
debts = 2,000/10,000 = .2 that is incorrect. I don't need the answer just help me figure out how to get to it. Every method I try is incorrect.