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Use the following Lowell Inc

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Use the following Lowell Inc. information for Questions 1 to 13.

Lowell Inc.

2005

2006

Sales

$3,500

$4,200

Cost of Goods Sold

1,850

2,190

Interest

310

320

Selling, General and Administrative Expense

200

210

Dividends

144

196

Depreciation

320

360

Cash

445

206

Receivables

290

350

Current liabilities

1,100

1,250

Inventory

1,166

1,090

Longterm debt

5,535

4,200

Net fixed assets

8,000

7,500

Tax rate

30% 30%

What is the LI’s total debt ratio for 2006?

a. 0.67

b. 1.16

c. 0.44

d. 1.62

e. 0.60

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