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Maple Furniture recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. This action had no effect on the company's total assets or operating income. Which of the following effects would occur as a result of this action?a. The company's equity multiplier increased.b. The company's return on assets decreased.c. The company's times interest earned ratio decreased.d. The company's debt ratio increased.e. The company's current ratio increased.
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