Firms with tangible long-term assets and predictable cash flows, such as electric utilities, tend to have balance sheets with a
a. high proportion of long-term debt (80% or more).
b. low proportion of long-term debt (20% or less).
c. high proportion of shareholders' equity (80% or more).
d. high proportion of cash (80% or more).
e. high proportion of retained earnings (80% or more).
A
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