Luther Corporation

Consolidated Balance Sheet

December 31, 2006 and 2005 (in $ millions)

Assets	2006	2005	Liabilities and Stockholders' Equity	2006	2005
Current Assets			Current Liabilities
Cash	65.3

58.5

Accounts payable

87.6

73.5
Accounts receivable	54.4

39.6

Notes payable / short-term debt

10.9

9.6
Inventories	46.6

42.9

Current maturities of long-term debt

39.4

36.9
Other current assets	5.6

3.0	Other current liabilities	6.0	12.0
Total current assets	171.9

144.0

Total current liabilities

143.9

132.0
Longminus

Term Assets			Long-Term Liabilities
Land	65.6

62.1

Long-term debt

234.1

168.9
Buildings	106.6

91.5	Capital lease obligations
Equipment	115.8

99.6
Less accumulated depreciation	(56.8

)	(52.5)	Deferred taxes	22.8	22.2
Net property, plant, and equipment	231.2

200.7

Other long-term liabilities

minus

minusminus

minus

minusminus

Goodwill

60.0

minus

minus

Total long-term liabilities

256.9

191.1

Other

longminus

term assets

63.0

42.0

Total liabilities

400.8

323.1

Total

longminus

term assets

354.2

242.7

Stockholders' Equity

125.3

63.6
Total Assets	526.1

386.7

Total liabilities and Stockholders' Equity

526.1

386.7

Refer to the balance sheet above. When using the book value of equity, the debt-equity ratio for Luther in 2006 is closest to:

A.4.54

B.2.27

C.1.13

D.3.18