Using the Following Balance Sheet and Income Statement Data What

question 33

Multiple Choice

Using the following balance sheet and income statement data what is the debt to assets ratio? $$\begin{array}{l}\begin{array} { l r l c } \text { Current assets } & \$ 21,000 & \text { Net income } & \$ 45,000 \\\text { Current liabilities } & 12,000 & \text { Stockholders' equity } & 63,000 \\\text { Average assets } & 132,000 & \text { Total liabilities } & 27,000\end{array}\\\text { Total assets } \quad 90,000\end{array}$$

• A)20.5 percent
• B)30 percent
• C)33.3 percent
• D)40.9 percent

---

Definitions:

Antennae Division

A specialized unit or department within an organization focused on telecommunications or related technological functions, involving the use of antenna systems.

Outside Supplier

A third-party company that provides goods or services to another company as part of the purchasing company's supply chain.

Variable Expenses

Financial outlays that fluctuate based on the rate of business or manufacturing activities.

Valve Division

A NO.