26.) MATH
You own a store that sells video games. You owe $25,000 to video game vendors; you have a ten-year bank
loan of $50,000; your bank account balance is $13,000; you own inventory worth $57,000; you have $2,000 in
accounts receivable; and fixed assets are $22,000. What are your total assets, liabilities, and owner's equity?
What is your debt-to-equity ratio? (LO 9.1-2, LO 9.2-3)