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The following partial balance sheet is provided for Groom Company: Liabilities and Stockholders' Equity Accounts payable $ 9,000 Salaries payable 12,000 Bonds payable (due in
The following partial balance sheet is provided for Groom Company:
| Liabilities and Stockholders' Equity | |||
| Accounts payable | $ | 9,000 | |
| Salaries payable | 12,000 | ||
| Bonds payable (due in ten years) | 20,000 | ||
| Common stock, no par | 30,000 | ||
| Retained earnings | 54,000 | ||
| Total liabilities and stockholders' equity | $ | 125,000 | |
What is the company's debt to assets ratio? (Rounded to nearest whole percent.)
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