The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017.
December 31 2016 2017
Cash $51,935 $9,612
Accounts receivable 28,191 22,102
Office supplies 4,447 3,257
Office equipment 136,500 145,400
Trucks 53,418 62,418
Building 0 178, 072
Land 0 44,436
Accounts payable 74, 115 36,759
Note payable 0 122,508
Compute the 2017 year-end debt ratio for the business.
Answers: 2
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The accounting records of Nettle Distribution show the following assets and liabilities as of Decemb...
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