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Question(s) / Instruction(s):

Using the following balance sheet and income statement data, what is the debt to total assets ratio?

Current assets   $7,000            Net income $12,000

Current liabilities 4,000           Stockholders’ equity 21,000

Total assets 30,000               Total liabilities 9,000

Average common shares outstanding was 10,000

a)            75%

b)            19%

c)            57%

d)            30%

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