The Following Information Has Been Condensed from the December 31

question 109

Short Answer

The following information has been condensed from the December 31 balance sheets of Gabriel Co.:
(a) Determine the ratio of fixed assets to long-term liabilities for each year.
(b) Determine the ratio of liabilities to stockholders' equity for each year.
(c) Comment on the year-to-year changes for both ratios.
Round your answers to two decimal places.

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Definitions:

Social Institution

A structured and stable set of norms and practices that govern the behavior of a group of people within a society.

State's Role

The functions and responsibilities undertaken by the government or governing bodies of a nation, including creating laws, providing services, and protecting the citizenry.

Rights and Privileges

Rights refer to fundamental freedoms and protections guaranteed under law, while privileges are special advantages not available to everyone.

Nationalism

A political ideology centered around the promotion of the interests and culture of one's nation, sometimes at the expense of others.