Corporate Fin Focused Approach
Corporate Fin Focused Approach
5th Edition
ISBN: 9781285660516
Author: EHRHARDT
Publisher: Cengage
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Thornton Manufacturing has total assets of $8,400,000 and total equity of $3,500,000. The industry average debt-to-equity ratio is 1.25. Calculate Thornton's debt-to-equity ratio and determine whether the company has higher or lower default risk compared to industry peers.
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Transcribed Image Text:Thornton Manufacturing has total assets of $8,400,000 and total equity of $3,500,000. The industry average debt-to-equity ratio is 1.25. Calculate Thornton's debt-to-equity ratio and determine whether the company has higher or lower default risk compared to industry peers.
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