Ruby Enterprises Ltd

Multiple Choice

Ruby Enterprises Ltd. has long-term bonds worth $20 million, retained earnings of $45 million, accounts payable of $10 million, notes payable of $12 million, and inventory worth $18 million. What is the value of total liabilities of Ruby Enterprises?

A) $42 million
B) $105 million
C) $87 million
D) $60 million
E) $85 million