Porter co reported the following on its december 31 2010

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Porter Co. reported the following on its December 31, 2010, balance sheet:

Liabilities and Owners' Equity:


Accounts payable

$ 3,000

Notes payable.

22,000

Bonds payable

45,000

Common stock

110,000

Preferred stock

20,000

Additional paid-in capital

70,000

Retained earnings

32,000

Treasury stock.

12,000

The debt/equity ratio for Porter Co. in 2010 (rounded) is

a. 20.5%

b. 24.1%

c. 28.7%

d. 31.8%

Reference no: EM13574667

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