Answer:
27.27%
Explanation:
With regards to the above, the formula for debt ratio is
= Total liabilities ÷ Total assets
Given that;
Total liabilities = $123 million
Total assets = $451 million
Debt ratio = $123 million ÷ $451 million
Debt ratio = 0.27272727
Debt ratio is 27.27%
Therefore, the debt ratio is 27.27%
