Question: Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $16,000 Net income $21,000 Current liabilities 8,000

Using the following balance sheet and income statement data, what is the debt to assets ratio?

Current assets $16,000 Net income $21,000
Current liabilities 8,000 Stockholders' equity 39,000
Average assets 80,000 Total liabilities 21,000
Total assets 60,000

Average common shares outstanding was 10,000.

13 percent

65 percent

26 percent

35 percent

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