Chestnut, Inc. reported the following balances on its balance sheet at December 31, Year 1: Total...

 

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Chestnut, Inc. reported the following balances on its balance sheet at December 31, Year 1: Total Assets Total Liabilities Common Stock Retained Earnings Total Equity Total Liabilities and Equity Multiple Choice 0.34 0.46 0.40 91,000 81,000 On January 1, Year 2, Chestnut purchased equipment for $56,000 on account. What is the company's debt-to-assets ratio immediately after the purchase of the equipment? (Round your answer to 2 decimal places.) O 0.39 $262,000 $ 90,000 172,000 $262,000 b Chestnut, Inc. reported the following balances on its balance sheet at December 31, Year 1: Total Assets Total Liabilities Common Stock Retained Earnings Total Equity Total Liabilities and Equity Multiple Choice 0.34 0.46 0.40 91,000 81,000 On January 1, Year 2, Chestnut purchased equipment for $56,000 on account. What is the company's debt-to-assets ratio immediately after the purchase of the equipment? (Round your answer to 2 decimal places.) O 0.39 $262,000 $ 90,000 172,000 $262,000 b

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