Wichita, Inc., had reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues$210,000?    Expenses 174,800?    Net income   $35,200? Current assets$55,000?    Long-term assets 165,000?    Total assets   $220,000? Current liabilities$30,000?    Long-term liabilities 85,000?    Total liabilities   $115,000? Common stock$45,000?    Retained earnings 60,000?    Total equity   $105,000? Total liabilities equity   $220,000? What is the company's debt-to-assets ratio?

A. 8%
B. 52%
C. 16%
D. 40%


Answer: B

Business

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