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Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses $220,000 191,200
Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses $220,000 191,200 $ 28,800 Net Income Current Assets Long-term Assets Total Assets Current Liabilities Long-term Liabilities $ 60,000 180,000 $240,000 $ 44,000 90,000 134,000 Total Liabilities Common Stock Retained Earnings Total Equity Total Liabilities and Equity What is the company's debt-to-assets ratio? $ 50,000 56,000 106,000 $240,000
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