The Financial Statements of Midwest Tours Are Given Below

question 8

Multiple Choice

The financial statements of Midwest Tours are given below. Note: The common shares are trading in the stock market for $36 each.
Refer to the financial statements of Midwest Tours.The firm's leverage ratio for 2009 is

• A)1.62.
• B)1.56.
• C)2.00.
• D)2.42.

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Definitions:

Personnel Costs

Expenses related to the compensation of employees, including wages, salaries, bonuses, benefits, and payroll taxes.

Information Technology

The use of computers, software, networks, and other digital devices to store, process, retrieve, and transmit information.

Weighted-Average Method

A method of costing inventory that allocates the mean cost of available goods for sale to the ending inventory and the cost of goods sold.

Assembly Department

A part of a manufacturing firm where parts are put together to create finished goods.