What is Galloway Company’s equity ratio?

a. 25.78%

b. 100.00%

c. 34.74%

d. 74.22%

e. 137.78%

GALLOWAY COMPANY Balance Sheet December 31, 2008 Assets Cash . . . . . . . . . . . . . . . . . . . . . . $ 86,000 Accounts receivable . . . . . . . . . . . 76,000 Merchandise inventory . . . . . . . . . 122,000 Prepaid insurance . . . . . . . . . . . . . 12,000 Long-term investments . . . . . . . . . 98,000 Plant assets, net . . . . . . . . . . . . . . 436,000 Total assets . . . . . . . . . . . . . . . . . $830,000 Liabilities and Equity Current liabilities . . . . . . . . . . . . . $124,000 Long-term liabilities . . . . . . . . . . . . 90,000 Common stock . . . . . . . . . . . . . . 300,000 Retained earnings . . . . . . . . . . . . . 316,000 Total liabilities and equity . . . . . . . $830,000.AppendixLO1