A firm has total assets of 3000000 it has 1200000 in, Accounting Basics

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A firm has total assets of 3000000 it has 1200000 in

Problem-

A firm has total assets of $3,000,000. It has $1,200,000 in long-term debt. The stockholders equity is $1,000,000. What is the debt to total asset ratio?

a). 45%

b). 75%

c). 55%

d). 67%

Additional Requirement-

The problem belongs to Accounting and it discusses about calculation of debt to total asset ratio.

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Accounting Basics: A firm has total assets of 3000000 it has 1200000 in

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Accounting Basics: A firm has total assets of 3000000 it has 1200000 in

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