Doug's Boat Shop,Inc.reports operating income of $260,000 and interest expense of $31,200.The average common stockholders' equity during the year was $50,000.The beginning assets balance is $115,000 and ending assets balance is $180,000.What is the leverage ratio? (Round your final answer to two decimal places. )
A) 5.90
B) 9.42
C) 2.95
D) 8.89
Correct Answer:
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