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1 2 J.C. Olson & Co. had earnings per share of $8 in year 2016, and it paid a $6 dividend. Book value per share

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"J.C. Olson & Co. had earnings per share of $8 in year 2016, and it paid a $6 dividend. Book value per share at year's end was $100. During the same period, the total retained earnings increased by $14 million. Olson has no preferred stock, and no new common stock was issued during the year. If Olson's year-end-debt (which equals its total liabilities) was $300 million, what was the company's year-end debt-to-asset ratio

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