9. Harris, Inc. had the following balances on its 12/31/11 balance sheet. Total assets $230,000 Total...

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9. Harris, Inc. had the following balances on its 12/31/11 balance sheet. Total assets $230,000 Total liabilities $ 85,000 Common Stock Retained Earnings Total owners' equity $ 80,000 65 000 145.000 Total liabilities & owners' equity $230.000 If Harris were to purchase land for $20,000 on credit under an agreement to pay for the land in one year, what would be its debt-to-assets ratio immediately after the purchase? A) 0.42 B) 0.46 C) 0.37 D) 0.34 9. Harris, Inc. had the following balances on its 12/31/11 balance sheet. Total assets $230,000 Total liabilities $ 85,000 Common Stock Retained Earnings Total owners' equity $ 80,000 65 000 145.000 Total liabilities & owners' equity $230.000 If Harris were to purchase land for $20,000 on credit under an agreement to pay for the land in one year, what would be its debt-to-assets ratio immediately after the purchase? A) 0.42 B) 0.46 C) 0.37 D) 0.34

Answer rating: 100% (QA)

Given Total Assets 23000o Total Liabilities 85000 Pu... View the full answer