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

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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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