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Finance guys, one question

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I'm stuck on this question, I know the answer, but can't seems to get the answer..No shame in asking for help is there?  ;D I was stuck in class and just barely missed my professor's office hour. Got a test tomorrow and this is only one I can't seem to figure out. Here it goes:

Brookman Inc's latest EPS was $2.75, its book value per share was $22.75, it had 315,000 shares outstanding, and its debt ratio was 44%. How much debt was outstanding?

I know the answer, I just can't seem to figure out how compute it, if similar problem shows up on test tomorrow I'll need know how to and I cannot find it anywhere in the book how to work it backward. If he had gave me total assets it would have made my life easier. ;D

Oh yeah, there a class called management 305 aka Decision science. That class is f****** hard! I made a 100 on my cost accounting test and I'll be lucky to get a B in that class..maybe lucky to get a C.   :-/

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Book value per share is 22.75 X 315,000 = 7,166,250 net assets which is assets minus liabilities. 

So 0.44 = Debt / (7,166,250 + Liabilities) which is Debt = 0.44(7,166,250+Liabilities)

According to the answer the Total Assets = 12,796,875.  According to that Liabilities = 5,630,625.  Which is the answer you were given, so that means they are using Debt and Liabilities interchangably (which I'm not sure is correct).

Debt = 0.44(7,166,250) + .44(Debt)

Debt = 3,153,150 + 0.44(Debt)

Debt - 0.44(Debt) = 3,153,150

0.56(Debt) = 3,153,150

Debt = 5,630,625

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Book value per share is 22.75 X 315,000 = 7,166,250 net assets which is assets minus liabilities.

So 0.44 = Debt / (7,166,250 + Liabilities) which is Debt = 0.44(7,166,250+Liabilities)

According to the answer the Total Assets = 12,796,875. According to that Liabilities = 5,630,625. Which is the answer you were given, so that means they are using Debt and Liabilities interchangably (which I'm not sure is correct).

Debt = 0.44(7,166,250) + .44(Debt)

Debt = 3,153,150 + 0.44(Debt)

Debt - 0.44(Debt) = 3,153,150

0.56(Debt) = 3,153,150

Debt = 5,630,625

Say Whaaaa :o

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Say Whaaaa :o

I'm a geek, what can I say?

I did skip one step of the work.  Solving for Assets (which isn't the same as net assets)

7,166,250 = Assets - Liabilities

Assets = 7,166,250 + Liabilities

The beginning formula is

Debt Ratio =  Debt/Assets

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