The Following Information Was Available for the Year Ended December

question 12

Multiple Choice

The following information was available for the year ended December 31, 2019: $\begin{array}{lr}\text { Earnings before interest and taxes (operating income) } & \$ 50,000 \\\text { Interest expense } & 10,000 \\\text { Income tax expense } & 12,000 \\\text { Net income } & 28,000 \\\text { Total assets at year-end } & 200,000 \\\text { Total liabilities at year-end } & 120,000\end{array}$
The debt ratio at December 31, 2019 was:

• A)40.0%
• B)60.0%
• C)66.7%
• D)150.0%

---

Definitions:

Cropped

Edited or altered by cutting out parts, especially in the context of images or photos, to focus on a particular aspect or to fit a certain size.

Trimmed

The removal of excess parts or edges to improve appearance, function, or efficiency; often used in the context of data, landscaping, or grooming.

Environmental Conservation

involves efforts to protect, preserve, and restore the natural environment from damage or degradation.

Undersea Life

Refers to the varieties of organisms and habitats found beneath the surface of the oceans and seas.