Luther Corporation Consolidated Balance Sheet 30 June 2017 and 2018 (in $ millions)

-Refer to the balance sheet above. If in 2017, Luther has 5.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt-equity ratio for Luther in 2017 is closest to:
A)2.71
B)2.61
C)2.59
D)2.55

Question

Luther Corporation Consolidated Balance Sheet 30 June 2017 and 2018 (in $ millions)
 
-Refer to the balance sheet above. If in 2017, Luther has 5.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt-equity ratio for Luther in 2017 is closest to:
A)2.71 
B)2.61 
C)2.59 
D)2.55

Quizplus · Accepted Answer

The Answer of Luther Corporation Consolidated Balance Sheet 30 June 2017 and 2018 (in $ millions)
 
-Refer to the balance sheet above. If in 2017, Luther has 5.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt-equity ratio for Luther in 2017 is closest to:
A)2.71 
B)2.61 
C)2.59 
D)2.55