In the past year, Blossom Corporation reported assets of $230229000. Liabilities reported on the balance sheet on the same date were reported at $69091655. Blossom issued a new note payable for cash during the year. The 8%, 5-year note was issued at a face value of $5008000. What is the company's debt to asset ratio after the refinance? O 29.37% O 31.50% 32.18% 30.01%
In the past year, Blossom Corporation reported assets of $230229000. Liabilities reported on the balance sheet on the same date were reported at $69091655. Blossom issued a new note payable for cash during the year. The 8%, 5-year note was issued at a face value of $5008000. What is the company's debt to asset ratio after the refinance? O 29.37% O 31.50% 32.18% 30.01%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:In the past year, Blossom Corporation reported assets of $230229000. Liabilities reported on the balance sheet on the same date
were reported at $69091655. Blossom issued a new note payable for cash during the year. The 8%, 5-year note was issued at a face
value of $5008000. What is the company's debt to asset ratio after the refinance?
O 29.37%
31.50%
32.18%
O 30.01%
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