The Following Financial Statement Data Are Taken from Xeron Company's

The following financial statement data are taken from Xeron Company's 2012 annual report:
$\begin{array}{lccc}&\text { (in millions) }\\ \text {Current assets } & \$12.8\\ \text {Investments } &9.4\\ \text { Intangibles } &6.8\\ \text {Property, plant, and equipment } &58.1\\ \text { Current liabilities } &6.4\\ \text { Long-term debt} &39.7\\ \text {Stockholders' equity } &40.8\end{array}$


Compute the debt to tangible net worth ratio.

A) 146.8%
B) 135.6%
C) 53.0%
D) 45.7%
E) none of the answers are correct

Correct Answer:

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