Hi, Please assist in Determining the owner and creditor financing levels. (Round

Question

Hi,

Please assist in Determining the owner and creditor financing levels. (Round answers to one decimal place.)

Percentage contributed by owners =

Percentage contributed by creditors =

mybusinesscourse.com Chapter 1 Homework Chapter 1 Homework calculate debt equity ratio from balanc Chegg Study | Guided Solutions and How to Print Screen on a Mac BusinessCourse E Menu O SINDY BRUNO-LOZADA ASSIGNMENT NAVIGATION CLICK HERE TO REVIEW LEARNING OBJECTIVES Accounting for Financial Reporting Grades QUESTION 3 Partially corrct Mark 31.00 out of 33.00 P Flag question Finish attempt Formulating Financial Statements from Raw Data Following is selected financial information from Abercrombie & Fitch for its fiscal year ended February 1, 2014 (S millions): Home Chapter 1 Chapter 2 Chapter 3 Chapter 4 Cash Asset Cash flows from operations Sales Stockholders Equity Cost of Goods Sold Cash flows from financing Total Liabilities Other Expenses, including income taxes 2,520.8 Noncash Assets Cash flows from investing Net Income Effect of exchange rate changes on cash (4.2) Cash, beginning year $600.1 175.5 4,116.9 1,729.5 ,541.5 (40.8) 1,121.5 -Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 2,250.9 (173.9) 54.6 643.5 -Chapter 11 Required a. Prepare an income statement, balance sheet, and statement of cash flows for Abercrombie & Fitch. Chapter 12

Explanation / Answer

Percentage contributed by owners = Total equity / Total assets

= [2851 - 1121.5] / 2851

=1729.5 / 2851

= 60.66%

Note:- Total equity = total assets - total liabilties

Percentage contributed by creditors = Total liabilities / total equity

= 1121.5 / 2851

= 39.34%

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