The Corrao Company Reports the Following Information What Is the Debt-To-Equity Ratio at December 31,2012?
A) 15

question 54

Multiple Choice

The Corrao Company reports the following information:
$\begin{array} { l } \text {Sales for the year ended December 31,2012 }&\$106,950\\ \text {Gross profit for the year ended December 31, 2012 }&\$45,150\\ \text { Net income for the year ended December 31,2012}&\$7,300\\ \text {Total Current Assets, December 31, 2012 }&\$18,700\\ \text {Total Current Liabilities, December 31, 2012 }&\$7,600\\ \text {Total Assets, December 31, 2012 }&\$88,400\\ \text {Total Liabilities, December 31,2012 }&\$20,850\\ \text { Total common shares outstanding, December 31, 2012}&\$1,000\\ \text {Market price per share, December 31, 2012 }&\$75.00\\ \text {Dividends per share, for the year ended December 31,2012 }&\$5.00\\\end{array}$

What is the debt-to-equity ratio at December 31,2012?

• A) 15.7%
• B) 30.9%
• C) 43.1%
• D) 75.7%

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Definitions:

Cerebellum

A part of the brain located at the back of the skull, responsible for coordinating voluntary movements and maintaining posture and balance.

Cribriform Plate

A thin, perforated bony part of the ethmoid bone in the skull, allowing passage for olfactory nerves from the nasal cavity to the brain.

Olfactory Nerve

The first cranial nerve, responsible for the sense of smell, transmitting odors from the nasal cavity to the brain.

Midsagittal Section

A vertical plane that divides the body or an organ into equal right and left halves.