The Following Partial Balance Sheet Is Provided for Groome Company

question 138

Multiple Choice

The following partial balance sheet is provided for Groome Company: $$\begin{array}{l}\text { Liabilities and Stockholders' Equity }\\\begin{array} { | l | r | r | } \hline \text { Accounts payable } & \$ 9,000 \\\hline \text { Salaries payable } & 12,000 \\\hline \text { Bonds payable (Due in 2020) } & 20,000 \\\hline \text { Common stock, no par } & 30,000 \\\hline \text { Retained earnings } & \underline{54,000} \\\hline \text { Total liabilities and stockholder' equity } & \$ \quad \underline{125,000} \\\hline\end{array}\end{array}$$ What is the company's debt to assets ratio?

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

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Definitions:

Fleshy Storage Leaves

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Male Gametophyte

The haploid stage in the life cycle of plants that produces sperm cells for fertilization.

Embryo Sac

The female gametophyte within the ovule of flowering plants, where fertilization occurs.

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These are buds that develop from an unusual place, not from the usual growth areas like the stem or branch nodes, often in response to stress or injury.