The Balance Sheet and Income Statement Shown Below Are for Pettijohn

question 55

Multiple Choice

The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.

-What is the firm's debt ratio?

• A) 45.93%
• B) 51.03%
• C) 56.70%
• D) 63.00%
• E) 70.00%

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Definitions:

Arm

A limb on the human body extending from the shoulder to the wrist, including the forearm and upper arm.

Pain

A distressing feeling and emotional response linked to real or possible harm to the body, or defined by reference to such harm.

Anatomic Position

A standardized method of observing or imaging the body that allows precise and consistent anatomical references; typically, the person stands erect with the feet flat and arms at the sides with palms facing forward.

Reference

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