The Following Partial Balance Sheet Is Provided for Groom Company

question 89

Multiple Choice

The following partial balance sheet is provided for Groom Company:
$\begin{array}{lcc}\text { Liabilities and Stockholders' Equity }\\\text { Accounts payable } &\$9,000\\\text { Salaries payable } &12,000\\\text { Bonds payable (due in ten years) } &20,000\\\text { Common stock, no par }&30,000 \\\text { Retained earnings } & 54,000 \\ \text { otal liabilities and stockholders' equity } & \$ 125,000\\\end{array}$
What is the company's debt to assets ratio? (Rounded to nearest whole percent.)

• A) 49%
• B) 16%
• C) 33%
• D) Cannot be determined with the information given.

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