The Following Partial Balance Sheet Is Provided for Groome Company

question 71

Multiple Choice

The following partial balance sheet is provided for Groome Company: $\begin{array}{lr}\text { Liabilities and stockholders' Equity }\\\\\text { Accounts payable } & \$ 15,300 \\\text { Salaries payable } & 13,000 \\\text { Bonds payable (due in ten years) } & 11,800 \\\text { Common stock, no par } & 27,700 \\\text { Retained earnings } &\underline{ 91,500} \\\text { Total liabilities and stockholders' equity } &\underline{ \$ 159,300}\end{array}$ What is the company's debt to assets ratio? (Rounded to nearest whole percent.)

• A) 7%
• B) 34%
• C) 25%
• D) Cannot be determined with the information given.

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