10 calculate the debt ratio using the following trial balance of melody instruments 4307880

10 calculate the debt ratio using the following trial balance of melody instruments 4307880

10) Calculate the debt ratio using the following trial balance of Melody Instruments, Inc. as of December 31, 2015.

Melody Instruments

Trial Balance

December 31, 2015

Account TitleDebitCredit

Cash$88,800

Accounts Receivable5,000

Office Supplies3,400

Equipment2,000

Building16,500

Land70,000

Accounts Payable$ 15,000

Notes Payable60,000

Common Stock50,000

Dividends1,200

Service Revenue72,000

Utilities Expense4,100

Salaries Expense4,000

Advertising Expense2,000_______

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