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At the End of the Current Year, Norman Company Reported

Question 196

Multiple Choice

At the end of the current year, Norman Company reported total liabilities of $300,000 and total equity of $100,000. The company's debt ratio on the last year-end was:


A) 300%.
B) 33.3%
C) 75.0%.
D) $400,000.
E) Cannot be determined from the information provided.

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