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The following statement of financial position and statement of comprehensive income should be used. ...

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Finance

The following statement of financial position and statement of comprehensive income should be used.

Woodburn, Inc. 2018 Statement of comprehensive income ($ in thousands)
Net Sales $6,380
Less: Cost of Goods Sold 4,120
Less: Depreciation 360
Earnings Before Interest and Taxes 1,900
Less: Interest Paid 45
Taxable Income 1,855
Less: Taxes 650
Net Income 1,205

Woodburn, Inc. Statement of financial position Years ended 2017 and 2018 ($ in thousands)
2017 2018 2017 2018
Cash $230 $340 Accounts payable $850 1,020
Accounts rec. 910 950 Long-term debt 1,650 1,400
Inventory 1,490 1,460 Common stock 2,500 2,200
Total 2,630 $2,750 Retained earnings 820 1,350
Net fixed assets 3,190 3,220
Total assets $5,820 $5,970 Total liabilities & equity $5,820 $5,970

What is Woodburn's debt-equity ratio for 2018?

Select one:

A.

.68

B.

.39

C.

.55

D.

.47

E.

.52

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