Durable Plastics Company had the following total assets, liabilities, and equity as of December 31.Total Assets$ 450 comma 000Total Liabilities131 comma 000Total Equity319 comma 000What is the company's debt ratio as of December 31? (Round your percentage answer to two decimal places.)

Debt ratio = 29.11%

Explanation:

A company's Debt ratio explains the financial leverage of a company to  paying off its liabilities using its assets by measuring a company's  total liabilities as a percentage of its total assets.

Given ,

Total Assets   $ 450,000

Total Liabilities $131, 000

Total Equity $319,000

Debt ratio = Total Liabilites /total asset  x 100

=131000/450000  X 100

= 29.11%

a

explanation:

answer///supply is elastic, and demand is inelastic;