Schiff Corporation has provided the following data from its most recent balance sheet: 
Required:
Compute the debt-to-equity ratio.Show your work!
Definitions:
Unforeseen Circumstances
Events that could not have been predicted or expected and may impact contractual agreements or obligations.
Preexisting Duty Rule
A legal principle that asserts no additional consideration is necessary to modify a contract when a party is already legally obligated to perform a duty.
Bilateral Contract
A type of agreement where both parties make a promise to each other to perform certain acts or refrain from performing certain acts.
Liquidated Debt
A debt with a fixed and determinable amount that is agreed upon by both parties.
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