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

---

Definitions:

Characteristics

Distinguishing traits, qualities, or properties that identify and define individuals, groups, or things.

Environments

The surroundings or conditions in which a person, animal, or plant lives or operates, including both natural and built contexts.

Shared Environment Experiences

Experiences or environmental factors that individuals living in the same environment share and that contribute to their development.

Siblings' Common Experiences

Siblings' common experiences refer to events, interactions, or circumstances that children in the same family share and that may influence their development or relationships.