The balance sheet for Parker Inc. at the end of the first year of operations indicates the following: 2009 Total current assets $600,000 Total investments 85,000 Total property, plant, and equipment 900,000 Current portion of long-term debt 250,000 Total long-term liabilities 350,000 Common stock, $10 par 600,000 Paid-in capital in excess of par common stock 60,000 Retained earnings 325,000 What is the long-term debt to total assets ratio for 2009 (rounded to one decimal place)? a. 37.9%. b. 40.0%. c. 22.1%. d. 41.7%.

The balance sheet for Parker Inc. at the end of the first year of operations indicates the following: 2009 Total current assets $600,000 Total investments 85,000 Total property, plant, and equipment 900,000 Current portion of long-term debt 250,000 Total long-term liabilities 350,000 Common stock, $10 par 600,000 Paid-in capital in excess of par common stock 60,000 Retained earnings 325,000 What is the long-term debt to total assets ratio for 2009 (rounded to one decimal place)? a. 37.9%. b. 40.0%. c. 22.1%. d. 41.7%.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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