A portion of Lapore Corporation's Balance Sheet appears below:Liabilities and Stockholders' EquityYear 2Year 1Current liabilities: Accounts payable$209,000 $200,000 Accrued liabilities 27,000 30,000 Notes payable, short term 94,000 90,000 Total current liabilities 330,000 320,000 Bonds payable 280,000 280,000 Total liabilities 610,000 600,000 Stockholders' equity: Common stock, $4 par value 360,000 360,000 Additional paid-in capital 70,000 70,000 Retained earnings 589,000 570,000 Total stockholders' equity 1,019,000 1,000,000 Total liabilities & stockholders' equity$1,629,000 $1,600,000 The company's debt-to-equity ratio at the end of Year 2 is closest to:
A. 0.27
B. 0.37
C. 0.39
D. 0.60
Answer: D
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