CORRECT ANSWER C. MICA’S DEBT-TO-EQUITY RATIO IS 32.2% AS SHOWN...

44.

Correct answer c. Mica’s debt-to-equity ratio is 32.2% as shown below.

Debt-to-equity ratio

= Total debt ÷ Equity

= ($84,000 + $11,000 + $77,000) ÷ ($300,000 + $28,000 + $206,000)

= $172,000 ÷ $534,000

= 32.2%