Protan Ltd has the following summary balance sheet at year-end.
Current assets $ 700 000
Long-term assets 1 000 000
Current liabilities 100 000
Long-term liabilities 300 000
Share capital 600 000
Retained earnings 700 000
The debt ratio at year-end is:
A) 76.5 %.
B) 23.5 %.
C) 40 %.
D) 17.6%.

Question

Quizplus · Accepted Answer

The Answer of Protan Ltd has the following summary balance sheet at year-end.
Current assets $ 700 000
Long-term assets 1 000 000
Current liabilities 100 000
Long-term liabilities 300 000
Share capital 600 000
Retained earnings 700 000
The debt ratio at year-end is:
A) 76.5 %.
B) 23.5 %.
C) 40 %.
D) 17.6%.

Protan Ltd Has the Following Summary Balance Sheet at Year-End