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

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