10. Cavalier Copper shows on its most recent balance sheet $840 million in total liabilities, $10 billion in treasury stock (recorded at par of $1/share) and $520 million in common stock outstanding (also recorded at par of $1/share). The company had negative retained earnings of $40 million at the beginning of its fiscal year, and it made a net profit of $60 million during the year. The companys stock sells for $4/share on the date of the balance sheet. The companys total assets are.
    1. $1.38 billion
    2. $10.84 billion
    3. $1.46 billion
    4. $2.94 billion
11. Using the same information as in question #28 and assuming the company discloses an additional $100 million in operating lease commitments with a net present value of $100 million, which it treats as debt, the companys total debt to total capital ratio should be.
    1. .54
    2. 1.74
    3. .45
    4. 1.56