Table 3.2
Dana Dairy Products Key Ratios Income Statement
Dana Dairy Products
For the Year Ended December 31,2019 Balance Sheet
Dana Dairy Products
December 31,2019
-The debt ratio for Dana Dairy Products in 2019 was ________.(See Table 3.2)

Question

Table 3.2
Dana Dairy Products Key Ratios  Income Statement
Dana Dairy Products
For the Year Ended December 31,2019  Balance Sheet
Dana Dairy Products
December 31,2019 
-The debt ratio for Dana Dairy Products in 2019 was ________.(See Table 3.2)

Quizplus · Accepted Answer

To calculate the debt ratio, we need to divide the total liabilities by total assets. From the balance sheet of Dana Dairy Products in Table 3.2, we can see that the total liabilities were $55,000 and the total assets were $100,000. Thus, the debt ratio for Dana Dairy Products in 2019 was ($55,000/$100,000) * 100 = 55 percent. Therefore, choice C is the correct answer.

Table 3.2 Dana Dairy Products Key Ratios Income Statement