What was the company year-end debt or assets ratio

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Question 1: K. Billingsworth & Co. had earnings per share of $4 last year, and it paid a $2 dividend. Total retained earnings increased by $12 million during the year, while book value per share at year-end was $40. Billingsworth has no preferred stock, and no new common stock was issued during the year. If Billingsworth's year-end debt (which equals its total liabilities) was $120 million, what was the company's year-end debt/assets ratio?

Reference no: EM132539661

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