At year end, a company with significant off-Balance
June 7th, 2024
At year end, a company with significant off-Balance Sheet operating leases has total assets of $90,000,000, and total equity of $36,000,000. The notes to the financial statements disclose the following long-term lease obligations. Complete the adjustment to capitalize these operating leases and compute their debt ratio before and after the adjustment.YearFuture Lease Obligation20X13,000,00020X23,000,00020X32,000,00020X42,000,00020X51,000,00020X6 and after10,000,000