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The debt to assets ratio measures the percentage of the total assets provided by creditors Question 19 A company whose current liabilities exceed its current assets may have a liquidity problem. Question 20 During 2014, Phelps Corporation reported net sales of $3,000,000, net income of $1,320,000, and depreciation expense of $80,000. Phelps also reported beginning total assets of $1,000,000, ending total assets of $1,500,000, plant assets of $800,000, and accumulated depreciation of $500,000. Phelps‘s asset turnover ratio is =================================================== ACC 556 Final Part 1 and 2 FOR MORE CLASSES VISIT www.acc556assist.com Final Part 1 Question 1 Under the corporate form of business organization Question 2 Accountants do not attempt to measure the change in a plant asset's market value during ownership because