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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 $234,000 Expenses 201,840 Net
Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues $234,000 Expenses 201,840 Net Income $ 32,160 Current Assets $ 67,000 Long-term Assets 201,000 Total Assets $268,000 Current Liabilities $ 54,000 Long-term Liabilities 97,000 Total Liabilities 151,000 Common Stock $ 57,000 Retained Earnings 60,000 Total Equity 117,000 Total Liabilities and Equity $268,000 What is the companys debt-to-assets ratio? Multiple Choice 6% 38% 56% 12%
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