Using the following balance sheet and income statement data, what is the debt to assets ratio?Current assets$22400Net income$44500Stockholders'Current liabilities1340066400equityAverage assets132000Total liabilities28600Total assets87000Average common shares outstanding was 17000.21.7 percent43.8 percent32.9 percent33.7 percent

Formula: Debt to Assets ratio = Total liabilities / Total Assets

Using the following balance sheet and income statement data, what is the debt to assets rati Current assets $22400 Net income $44500 Stockholders' equity Current liabilities 13400 66400 Average assets 132000 Total liabilities 28600 Total assets 87000 Average common shares outstanding was 17000.

Using the following balance sheet and income statement data, what is the debt to assets rati Current assets $22400 Net income $44500 Stockholders' equity Current liabilities 13400 66400 Average assets 132000 Total liabilities 28600 Total assets 87000 Average common shares outstanding was 17000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Using the following balance sheet and income statement data, what is the debt to assets ratio?
Current assets
$22400
Net income
$44500
Stockholders'
Current liabilities
13400
66400
equity
Average assets
132000
Total liabilities
28600
Total assets
87000
Average common shares outstanding was 17000.
21.7 percent
43.8 percent
32.9 percent
33.7 percent

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