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Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand Total Current Assets Total Fixed Assets
Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand Total Current Assets Total Fixed Assets Total Assets $ 10,000 130,000 260,000 $390,000 Accounts Payable $ 20,000 Overdraft Loan Payable 0 1-Year Bank Loan Payable 5,000 Current Portion of Long-Term Bank Loans 17,000 Total Current Liabilities 42,000 Long-Term Bank Loans Outstanding 138,000 Total Liabilities 180,000 Year 11 Year 12 Shareholder Equity: Balance Change Common Stock 20,000 20,000 Additional Capital 110,000 110,000 60,000 20,000 80,000 Total Shareholder Equity 190,000 +20,000 210,000 Retained Earnings Total Liabilities and Shareholder Equity $390,000 Based on the above figures and the definition of the debt-assets ratio presented in the Help section for p. 5 of the Footwear Industry Report, the company's debt-assets ratio (rounded to 2 decimal places) is 0.43. 0.36. 0.46. 0.44. 0.42.
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