Using the Following Balance Sheet and Income Statement Data for Castillo

question 48

Multiple Choice

Using the following balance sheet and income statement data for Castillo Company what is the company's debt to assets ratio? $$\begin{array} { l r l r } \text { Current assets } & \$ 41,000 & \text { Net income } & \$ 48,000 \\\text { Current liabilities } & 22,000 & \text { Stockholders' equity } & 75,000 \\\text { Average assets } & 210,000 & \text { Total liabilities } & 125,000 \\\text { Total assets } & 200,000 & &\end{array}$$

• A)24.3 percent
• B)35.7 percent
• C)37.5 percent
• D)62.5 percent

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