Use the Information for the Question(s)below

question 52

Multiple Choice

Use the information for the question(s) below.
In November 2019,Perrigo Co.(PRGO) had a share price of $39.20.They had 91.33 million shares outstanding,a market-to-book ratio of 3.76.In addition,PRGO had $845.01 million in outstanding debt,$163.82 million in net income,and cash of $257.09 million.
-Perrigo's debt to equity ratio is closest to:

• A)0.24.
• B)0.50.
• C)0.75.
• D)0.89.

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Definitions:

Sale-on-approval

A transaction in which goods are delivered to a buyer with the understanding that the sale becomes final only if the buyer approves or is satisfied with the products.

Sale-or-return

A commercial arrangement where goods are delivered to a buyer who has the right to return the goods if they are not sold, within a stipulated period.

Voidable Title

A legal condition referring to a situation where a title or ownership can be invalidated at the discretion of one party due to certain conditions, such as fraud.

Void

A term applied to a contract that is not valid because its object is illegal or it has some defect that is so serious that it is not a contract.