参考答案：A

解析：

Working capital equals current assets minus current liabilities and is lower under a capital lease because the current portion of the capital lease increases current liabilities. Total asset turnover is lower because total assets are higher under a capital lease. Companies with capital leases report higher debt to equity (there is an asset and liability increase and net income is lower in the early years, decreasing the denominator). The return on equity ratio is lower with a capital lease because the numerator, net income, is decreased proportionally more than the denominator, equity.