Quick answer of this accounting questions The following balance sheet information is provided for Pacific Coast Corporation for 2024:AssetsCashAccounts receivableInventoryPrepaid expenses$6,3008,75015,4002,100Plant and equipment, net of depreciation 24,600Land13,850Total assets$71,000Liabilities and Stockholders' EquityAccounts payable$4,250Salaries payable7,300Notes payable (Due in 2026)12,500Common stock, $5 par25,000Retained earnings21,950Total liabilities and stockholders' equity $71,000What is the company's debt to equity ratio?a. 33.80% b. 51.25% c. 195.12% d. 58.25%

Step 1: Definition of Debt to Equity RatioThe debt-to-equity ratio measures a company's financial…

Answered: The following balance sheet information…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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