Selected financial data for Surf City and Paradise Falls are as follows: ($ in m

Question

Selected financial data for Surf City and Paradise Falls are as follows: ($ in millions) Surf City Paradise Falls 2018 2017 2018 2017 Total assets $ 19,828 $ 19,804 $ 39,161 $ 38,637 Total liabilities 11,519 11,396 15,232 14,805 Total stockholders’ equity 8,309 8,408 23,929 23,832 Sales revenue $ 7,688 $ 15,382 Interest expense 356 336 Tax expense 4 Net income 18 1,298 Required: 1-a. Calculate the debt to equity ratio for Surf City and Paradise Falls for the most recent year. (Do not round intermediate calculations. Round ratios final answers to 2 decimal places. Enter dollar answer in millions. (i.e., $5,500,000 should be entered as 5.5))

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DATA :

Surf city Paradise falls 2018 2017 2018 2017 A Total assets 19,828 19,804 39,161 38,637 B Total Liabilities 11,519 11,396 15,232 14,805 C Total stockholders’ equity 8,309 8,408 23,929 23,832 D Debt equity ratio = B/C 1.39 1.36 0.64 0.62

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