At the Beginning of the Year,Norwood Pass Industries Had $240,000

Multiple Choice

At the beginning of the year,Norwood Pass Industries had $240,000 in total assets and a debt-to-assets ratio of 0.5 or 50%.During the year,Norwood's assets increased by $80,000,and its liabilities increased by $72,000.What is the debt-to-assets ratio at the end of the year?

A) 0.6 or 60%
B) 0.4 or 40%
C) 0.9 or 90%
D) 1.7 or 170%