Summit Industries' balance sheet showed the following amounts: ⚫ Current Liabilities = $15,000 . Bonds Payable = $5,000 • Lease Obligations = $6,000 . Notes Payable = $2,000 Total Stockholders' Equity = $20,000 What is the debt-to-equity ratio? a. 0.70 b. 1.35 c. 1.40 d. 1.50

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