Use this data campbell Industries liabilities and owner's equity
Accounts payable $530,000
Notes payable $252, 000
Current liabilities = $782,000
Long-term debt $1,127,000
Common equity $4,939,000
Total liabilities and equity $6,848,000
What percentage of the firm's assets does the firm finance using debt (liabilities)?
If campbell were to purchase a new warehouse for 1.3 million and finance it entirely with long term debt, what would be the firm's new debt ratio? (Round to one decimal place)