The Following Information Is Available from the Most Recent Financial

question 156

Multiple Choice

The following information is available from the most recent financial statements of the Attaché Corporation: $\begin{array}{lr}\text { Total Assets } & \$ 800,000 \\\text { Net Income } & 120,000 \\\text { Average total liabilities } & 400,000 \\\text { Sales revenue } & 1,500,000 \\\text { Total liabilities } & 500,000 \\\text { Average total assets } & 700,000\end{array}$ What is the debt-to-asset ratio?

• A)57.1%
• B)62.5%
• C)160%
• D)175%