Apollo Corp reported the following balance sheet: Cash $28,000 Account

Apollo Corp reported the following balance sheet:
Cash $28,000 Accounts payable $5,000
Accounts receivable 15,000 Notes Payable 12,000
Inventory 45,000 Accruals 17,000
Net Fixed Assets 122,000 Long-Terms Debt 45,000
Common Stock 10,000
Retained

Earnings 121,000
Total assets $210,000 Total Liab. & Equity $210,000
Apollo Corp’s debt ratio is
A) 37.62%. B) 32.17%. C) 39.45%. D) 42.95%.

ANSWER

A