Two public corporations, First Engineering and Midwest Development, each show capitalization of $175 million in their annual reports. The balance sheet for First indicates total debt of $87 million, and that of Midwest indicates net worth of $62 million. Determine the D-E mix for each company.
What will be an ideal response?
First Engineering: D-E mix = 87/(175-87) = 87/88
Basically, a 50-50 D-E mix
Midwest Development: D-E mix = (175-62)/62 = 113/62
Approximately, a 65-35 D-E mix
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