At the beginning of the current year, Snell Co. total assets were $282,000 and its total liabilities were $191,200. During the year, the company reported total revenues of $127,000, total expenses of $93,000 and owner withdrawals of $22,000. There were no other changes in owner's capital during the year and total assets at the end of the year were $294,000. The company's debt ratio at the end of the current year is:
A. 65.0%.
B. 53.8%.
C. 147.00%.
D. 67.8%.
E. 35.0%.
Answer: A
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