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The Following Information Is Available from the Most Recent Financial

Question 156

Multiple Choice

The following information is available from the most recent financial statements of the Attaché Corporation:  Total Assets $800,000 Net Income 120,000 Average total liabilities 400,000 Sales revenue 1,500,000 Total liabilities 500,000 Average total assets 700,000\begin{array}{lr}\text { Total Assets } & \$ 800,000 \\\text { Net Income } & 120,000 \\\text { Average total liabilities } & 400,000 \\\text { Sales revenue } & 1,500,000 \\\text { Total liabilities } & 500,000 \\\text { Average total assets } & 700,000\end{array} What is the debt-to-asset ratio?


A) 57.1%
B) 62.5%
C) 160%
D) 175%

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