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The following partial balance sheet is provided for Groome Company: Liabilities and Stockholders' Equity Accounts payable $14,000 Salaries payable 18,000 Bonds payable (due in ten
The following partial balance sheet is provided for Groome Company:
Liabilities and Stockholders' Equity | |
---|---|
Accounts payable | $14,000 |
Salaries payable | 18,000 |
Bonds payable (due in ten years) | 12,800 |
Common stock, no par | 20,000 |
Retained earnings | 84,400 |
Total liabilities and stockholders' equity | $149,200 |
What is the company's debt to assets ratio? (Rounded to nearest whole percent.)
Multiple Choice
31%
9%
30%
Cannot be determined with the information given.
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