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Springfield Bank is evaluating Crook EnterpnseS, which has requested a $3,930,000 loan, to firm's financial leverage and financial risk
Springfield Bank is evaluating Crook EnterpnseS, which has requested a $3,930,000 loan, to firm's financial leverage and financial risk. On the basis of the debt ratios for Creek, along with II averages and Creek's recent financial statements, evaluate and recommend appropriate action request.
irprises's debt ratio is
_ (Round to two decimal places )
answer in the answer box and then click Check Answer.
Expert Solution
As you have not provided the table for calculation of debt ratio. So, I have assumed the following data:
Total Debt = Total Current Liabilities + Long-term Debt
= $16,550,000+$20,204,000
Total Debt = $36,754,000
Total Assets = $50,504,000
Debt Ratio = Total Debt / Total Assets
= $36,754,000/$50,504,000
Debt Ratio = 0.73
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