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The following partial balance sheet is provided for Groome 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 Groome 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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