Carl Industries
Carl Industries Has Condensed Balance Sheets as Shown

question 40

Multiple Choice

Carl Industries
Carl Industries has condensed balance sheets as shown:
$\begin{array}{|l|r|r|r}\hline & {\mathbf{2 0 1 1}} & {\mathbf{2 0 1 0}} & {\mathbf{2 0 0 9}} \\\hline \text { Assets: } & & & \\\hline \text { Current assets } & 65,000 & \$ 46,500 & \$ 80,000 \\\hline \text { Plant \& equipment, net } & 600,000 & 420,000 & 410,000 \\\hline \text { Intangible assets, net } & 15,000 & 36,500 & 50,000 \\\hline \text { Total assets } & 680,000 & \$ 503,000 & 540,000 \\\hline & & & \\\hline \text { Liabilities \& Stockholders' Equity: } & & & \\\hline \text { Current liabilities } & \$ 70,000 & \$ 25,000 & \$ 33,500 \\\hline \text { Long-term liabilities } & 420,000 & 290,000 & 400,000 \\\hline \text { Stockholders' equity } & 190,000 & 188,000 & 106,500 \\\hline \text { Total liabilities \& equity } & \$ 680,000 & \$ 503,000 & 540,000 \\\hline\end{array}$

-Refer to the information for Carl Industries.In a common size balance sheet for 2009,total liabilities and equity are expressed as: 

• A) 25.9%
• B) 100%
• C) 74.1%
• D) 103.6%

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Definitions:

Acidic Products

Substances that release hydrogen ions (H+) in solution, resulting in a pH less than 7.

Respiration Rate

The number of breaths taken per minute, an important measure of respiratory health and function.

Haldane Effect

Hemoglobin that is not bound to carbon dioxide binds more readily to oxygen than hemoglobin that is bound to carbon dioxide.

Oxygen

A chemical element with symbol O and atomic number 8, essential for breathing and energy production in cellular respiration.