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Durango Joes recently used short-term debt to buy back some of its common stock, increase the price per share. The companys total assets and operating

Durango Joes recently used short-term debt to buy back some of its common stock, increase the price per share. The companys total assets and operating income were not affected. Which of the following effects did occur? a. The companys current ratio increased. b. The companys quick ratio increased. c. The companys times interest earned decreased. d. The companys debt ratio decreased. e. The companys equity multiplier decreased.

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