Using the following balance sheet and income statement data, what is the debt to assets ratio? $$\begin{array} { l r l r }
\text { Current assets } & \$ 7,000 & \text { Net income } & \$ 15,000 \
\text { Current liabilities } & 4,000 & \text { Stockholders' equity } & 21,000 \
\text { Average assets } & 44,000 & \text { Total liabilities } & 9,000 \
\text { Total assets } & 30,000 & &
\end{array}$$ Average common shares outstanding was 10,000.
A) 20.5 percent
B) 30 percent
C) 33.3 percent
D) 40.9 percent

Question

Using the following balance sheet and income statement data, what is the debt to assets ratio? $$\begin{array} { l r l r } 
\text { Current assets } & \$ 7,000 & \text { Net income } & \$ 15,000 \
\text { Current liabilities } & 4,000 & \text { Stockholders' equity } & 21,000 \
\text { Average assets } & 44,000 & \text { Total liabilities } & 9,000 \
\text { Total assets } & 30,000 & &
\end{array}$$ Average common shares outstanding was 10,000.
A) 20.5 percent
B) 30 percent
C) 33.3 percent
D) 40.9 percent

Quizplus · Accepted Answer

The Answer of Using the following balance sheet and income statement data, what is the debt to assets ratio? $$\begin{array} { l r l r } 
\text { Current assets } & \$ 7,000 & \text { Net income } & \$ 15,000 \
\text { Current liabilities } & 4,000 & \text { Stockholders' equity } & 21,000 \
\text { Average assets } & 44,000 & \text { Total liabilities } & 9,000 \
\text { Total assets } & 30,000 & &
\end{array}$$ Average common shares outstanding was 10,000.
A) 20.5 percent
B) 30 percent
C) 33.3 percent
D) 40.9 percent

Using the Following Balance Sheet and Income Statement Data, What