Justin Company Has Total Assets, Liabilities, and Shareholders' Equity of $38,000

question 21

Multiple Choice

Justin Company has total assets, liabilities, and shareholders' equity of $38,000, $17,000, and $21,000, respectively, at the beginning of 2017. At the end of 2017, total assets, liabilities, and shareholders' equity were reported at $32,000, $13,000, and $19,000, respectively. What is Justin's 2017 debt to equity ratio?

• A)0.70
• B)1.17
• C)0.75
• D)1.13

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