The 2020 financial statements of Cullumber Company contain the following selected data (in millions). Current assets $89 Total assets 143 Current liabilities 31 Total liabilities 73 Cash 6 Interest expense 7 Income taxes 9 Net income 11 The debt to assets ratio (rounded) is

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hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answer///supply is elastic, and demand is inelastic;