What would be the adjusted debt to assets ratio, Financial Accounting

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What would be the adjusted debt to assets ratio

Problem

Consider the following information extracted from a financial statement:

Reported: Assets = $537,311, Liabilities = $114,602, Equity = (Assets - Liabilities)

You believe the firm has omitted a provision pertaining to a lawsuit. Based on your assessment, this provision is valued at $35,279 and that it will be paid in the next six months. Assuming a corporate tax rate of 34 percent, what would be the adjusted debt to assets ratio?

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Financial Accounting: What would be the adjusted debt to assets ratio

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