The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
-What is the firm's debt ratio?
A) 51.03%
B) 56.70%
C) 63.00%
D) 70.00%

Question

The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. 
-What is the firm's debt ratio?
A) 51.03% 
B) 56.70% 
C) 63.00% 
D) 70.00%

Quizplus · Accepted Answer

The Answer of The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. 
-What is the firm's debt ratio?
A) 51.03% 
B) 56.70% 
C) 63.00% 
D) 70.00%

The Balance Sheet and Income Statement Shown Below Are for Pettijohn