The following information is available for Escalante, Inc.:
Using the above information, compute the following leverage ratios (round to two decimal places).
Definitions:
Notes Payable
Notes payable are written agreements where a borrower agrees to pay back a specified amount of money, plus interest, to a lender at a future date.
Accounts Receivable
Amounts owed to a business by its customers for goods or services delivered but not yet paid for.
Journalize
The act of recording transactions in the journal as part of the accounting process.
Office Equipment
Tangible property like desks, computers, and machinery used in an office for operations.
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