Joseph and John,Inc. ,had the following balance sheet results for 2012:
$\begin{array}{lccc}
&\text { (in millions) }\
\text {Current liabilities } &\$12.6 \
\text {Bonds payable } &18.6\
\text { Lease obligations} &2.7\
\text {Noncontrolling interest } &1.4\
\text {Common stock } &8.6\
\text {Retained earnings } &\underline{22.9}\
&\underline{\$66.8}
\end{array}$

Compute the debt-equity ratio.
A)112.1%
B)87.6%
C)67.6%
D)46.7%
E)none of the answers are correct

Question

Joseph and John,Inc. ,had the following balance sheet results for 2012:
$\begin{array}{lccc}
&\text { (in millions) }\
  \text {Current liabilities  } &\$12.6  \
 \text {Bonds payable  } &18.6\
 \text {  Lease obligations} &2.7\
 \text {Noncontrolling interest  } &1.4\
 \text {Common stock  } &8.6\
 \text {Retained earnings  } &\underline{22.9}\
&\underline{\$66.8}
\end{array}$

Compute the debt-equity ratio.
A)112.1%
B)87.6%
C)67.6%
D)46.7%
E)none of the answers are correct

Quizplus · Accepted Answer

The Answer is A

Joseph and John,Inc Compute the Debt-Equity Ratio