The following balance sheet information is provided for Santana Company for Year 2: Assets Cash$7600? Accounts receivable 13,750? Inventory 15,800? Prepaid expenses 2600? Plant and equipment, net of depreciation 20,500? Land 14,400? Total assets$74,650? Liabilities and Stockholders' Equity Accounts payable$3390? Salaries payable 7230? Bonds payable (due in ten years) 17,000? Common stock, no par 11,500? Retained earnings 35,530? Total liabilities and stockholders' equity$74,650? What is the company's debt to equity ratio?
A. 124.22%
B. 49.97%
C. 58.73%
D. 30.53%
Answer: C
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