Click to watch the Tell Me More Learning Objective $6$ video and then answer the questions below.

Assets for Lincoln Company totaled $$13,000,$ liabilities totaled $$1,000,$ and owner's equity totaled $$12,000.$ What is the ratio of liabilities to owner's equity?

a$.0\mathrm{.}0833$

b$.1\mathrm{.}0833$

c$.12\mathrm{.}00$

d$.$ None of these choices are correct.

The following data were taken from Stanton Company's balance sheet:

Dec. $31,202$

Dec. $31,201$

Total liabilities

$$110,000$

$$105,000$

Total owner's equity

$90,000$

$65,000$

What are the ratios of liabilities to owner's equity for $20$X$2$ and $20$X$1,$ respectively?

a$.1\mathrm{.}22,1\mathrm{.}62$

b$.1\mathrm{.}34,1\mathrm{.}62$

c$.1\mathrm{.}22,1\mathrm{.}38$

d$.$ None of these choices are correct.