What was its year-end debt and assets ratio

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Reference no: EM13976289

Billings worth Company had earnings per share of $4 last year and it paid a $2 dividend. Total retained earnings increased by $12 million during the year, and the book value per share at year-end was $40. Billings worth has no preferred stock, and no new common stock was issued during the year. If the company’s year-end debt (which equals its total liabilities) was $120 million, what was its year-end debt/assets ratio?

Reference no: EM13976289

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