64. As of the end of 2017, Ice Company had total assets of P375,000 and equity of P206,250.
For 2018, its budget for capital investment projects is P62,500. To finance a portion of the
capital budget, the company may borrow from a bank which set a condition that the loan
would be approved, provided that the 2018 debt-to-equity ratio should be the same as the
debt-to-equity ratio in 2017.
How much debt should be incurred to satisfy the bank’s condition?
a. P28,125 c. P34,375
b. P62,500 d. P51,138
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