Question

Balance Sheet Current assets Cash 910,000 Acc receivable not given Inventories 1,050,000 Fixed assets 3,710,000 TOTAL...

Balance Sheet
Current assets
Cash 910,000
Acc receivable not given
Inventories 1,050,000
Fixed assets 3,710,000
TOTAL ASSETS 7,000,000

Current liabilities
Acc payable not given
Long-term debt 3,500,000
Common stock 560,000
Retained earnings 2,470,000
TOTAL LIAB and EQUITY 7,000,000

Income Statement
Sales 14,000,000
Operating expense 11,200,000
EBIT 2,800,000
Interest expense 490,000
EBT 2,310,000
Taxes 924,000
Net income 1,386,000

What is the firm's debt ratio?

A.56.71%
B.50.00%
C.43.29%
D.93.29%
E.92.00%

please help
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