The following data are from Lorien Company. Accounts Payable 80Accounts Receivable 100 Capital Stock 120 Cash 30 Cost of Goods Sold 600 Inventory 200 Long-term Debt 400 Net Income 80 Property, Plant, and Equipment (net) 500 Retained Earnings 230 Sales 1,000 Compute DEBT RATIO. a. 42.2% b. 57.8% c. 72.3% d. 27.7% e. 14.5%

The accountant at bramble corp. has determined that income before income taxes amounted to $10800 using the fifo costing assumption. if the income tax rate is 30% and the amount of income taxes paid would be $900 greater if the lifo assumption were used, what would be the amount of income before taxes under the lifo assumption?