Question: 40. Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets I $ 21,000 Net income $

40. Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets I $ 21,000 Net income $ 45,000 Current liabilities 12,000 Stockholders' equity 63,000 Average assets 132,000 Total liabilities 27,000 Total assets 90,000 Average common shares outstanding was 15,000. A) 20.5 percent B) 30 percent C) 33.3 percent D) 40.9 percent

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