Question 1 k Previous Given the following Year 12 balance sheet data for a footwear company Balance Sheet Data Cash on Hand Total Current Assets Total Assets Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Loans Total Current Liabilities Long-Term Bank Loans Outstanding 2,000 78,000 315,000 4,000 8,000 13,000 48,000 105,000 Shareholder Equity Common Stock Additional Capital Retained Earnings Year 11 Balance Year 12 Change 10,000 100,000 30,000 0 10,000 0 100,000 22,000 52,000 Total Shareholder Equity 40,000 +22,000 162,000 Based on the above figures and the formula for calculating the debt-assets ratio, the compa debt-assets ratio (where debt is defined to include both short-term and long-term debt) is O 0.375 O 0.413. O 0.40 O 0.333. O 0.318 Prev Next