Corona Company's Balance Sheet Accounts Follow What Is Corona Company's Debt to Equity Ratio for 2010

question 122

Multiple Choice

Corona Company's balance sheet accounts follow:
$\begin{array}{lrrr} \text { At December 31}&2011&2010&2009\\ \text { Assets}\\ \text { Cash } & \$ 25,868 & \$ 31,163 & \$ 31,182 \\ \text { Accounts receivable, net } & 78,034 & 53,995 & 41,152 \\ \text { Merchandise inventory } & 95,120 & 73,491 & 46,095 \\\text { Prepaid expenses } & 8,330 & 8,099 & 3,429 \\ \text { Plant assets,net } & 241,854 & 218,932 & 199,542 \\ \text { Total assets } & \$ 449,206 & \$ 385,680 & \$ 321,400 \\\text { Liabilities and Equity } & & & \\\text { Accounts payable } & \$ 108,058 & \$ 67,135 & \$ 42,849 \\\text { Long-term notes payable secured by mortgages on } & & & \\\text { plant assets } & 85,791 & 87,819 & 71,029 \\ \text { Common stock, } \$ 10 \text { par value } & 162,500 & 162,500 & 162,500 \\\text { Retained earnings } &92,857 & 68,226 & 45,022 \\\text { Total liabilities and equity } &\$449,206 & \$ 385,680 & \$ 321,400 \\\end{array}$

What is Corona Company's debt to equity ratio for 2010?

• A)1.49
• B).71
• C).40
• D)4.39
• E).67

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Definitions:

U

U is the chemical symbol for uranium, a heavy metallic element used as a fuel in nuclear reactors and in the production of nuclear weapons.

Electrons

Electrons are negatively charged subatomic particles found in atoms, crucial for chemical bonds, electricity, and magnetism.

Atoms

The smallest units of matter that form chemical elements, consisting of a nucleus surrounded by electrons.

Potassium

A chemical element with the symbol K, atomic number 19, and one of the alkali metals, essential for living organisms.