Solved

The Following Data (In Millions) Is Given for Magenta Inc

Question 74

Multiple Choice

The following data (in millions) is given for Magenta Inc.for the current year.  Total assets $720,000 Total liabilities $411,000 Total stockhol ders’ equity $309,000\begin{array} { l l } \text { Total assets } & \$ 720,000 \\\text { Total liabilities } & \$ 411,000 \\\text { Total stockhol ders' equity } & \$ 309,000\end{array} ? Compute the debt ratio.(Round to the nearest whole number.)


A) 10%
B) 44%
C) 57%
D) 75%

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q69: When the contract rate of interest on

Q71: If $4,000,000 of 12% bonds are issued

Q73: FICA tax becomes a liability to the

Q75: If 50,000 shares are authorized, 35,000 shares

Q76: Neon Blue Co.provided the following summarized

Q77: On which of the following dates, a

Q78: On July 1, Mark Co.issued $3,000,000 of

Q79: The periodic interest to be paid on

Q89: The main source of paid-in capital is

Q105: The primary purpose of a stock split