Solved: Billingsworth has no preferred stock and no new common, Cost Accounting

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Billingsworth has no preferred stock and no new common

DEBT RATIO Last year K. Billingsworth & Co. had earnings per share of $4 and dividends per share of $2. Total retained earnings increased by $12 million during the year, while book value per share at year-end was $40. Billingsworth has no preferred stock, and no new common stock was issued during the year. If its year-end total debt was $120 million, what was the company's year-end debt/assets ratio?

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Cost Accounting: Billingsworth has no preferred stock and no new common

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