Assets 2006 2005 Liabilities and Stockholders' Equity 2006 2005
Current Assets Current Liabilities
Cash 58.8 58.5 Accounts payable 85.8 73.5
Notes payable/
Accounts receivable 56.6 39.6 short-term debt 10.5 9.6
Current maturities of
Inventories 46.4 42.9 long-term debt 38 36.9
Other current assets 6.1 3.0 Other current liabilities 6.0 12.0
Total current assets 167.9 144.0 Total current Liabilities 140.3 132.0

Long-Term Assets Long-Term Liabilities
Land 65.6 62.1 Long-term debt 238.3 168.9
Buildings 108.1 91.5 Capital lease obligations
Equipment 118.3 99.6
Less accumulated
depreciation (54.8) (52.5) Deferred taxes 22.8 22.2
Net property, plant, and
equipment 237.2 200.7 Other long-term liabilities _____ _____
Goodwill 60.0 --- Total long-term liabilities 261.1 191.1
Other long-term assets 63.0 42.0 Total liabilities 401.4 323.1
Total long-term assets 360.2 242.7 Stockholders' Equity 126.7 63.6
Total liabilities and
Total Assets 528.1 386.7 Stockholders' Equity 528.1 386.7
refer to the balance sheet above. when using the book value of equity, the debt-equity ratio for luther in 2006 is closest to ________.
a) 4.53
b) 2.26
c) 1.13
d) 3.17