Income Statement Balance Sheet Sales $20,000,000 Cost of Goods Sold 8,000,000 12,000,000 Selling and Administrative 1,600,000 Depreciation 3,000,000 7,400,000 Interest 2.000.000 5,400,000 Taxes (40%) 2,160,000 3,240,000 Common Stock Div. 600,000 $2,640,000 Assets: Cash Marketable Securities Accounts Receivable, net Inventory Prepaid Expenses Plant & Equipment $ 3,000,000 12,500,000 2,500,000 30,000,000 5,000,000 30,000,000 Total Assets 85,000,000 Liabilities and Equity: Accounts Payable Notes Payable Accrued Expenses Bonds Payable Common Stock Capital in Excess of Par Retained Earnings $20,000,000 5,000,000 5,000,000 25,000,000 5,000,000 5,000,000 Total Liabilities and Equity $85,000,000 Shares outstanding of common stock = 1,000,000 Market price of common stock = $18. 3. The Total Debt to Total Asset ratio is: A) 1.31 B) 76.4 C) 0.647 D) 0.59