12 Chestnut, Inc. reported the following balances on its balance sheet at December 31, Year 1: 01:49:06 Total Assets Total Liabilities Common Stock eBook Retained Earnings Total Equity Total Liabilities and Equity $254,000 $ 81,000 89,000 84,000 173,000 $254,000 On January 1, Year 2, Chestnut purchased equipment for $52,000 on account. What is the company's debt- to-assets ratio immediately after the purchase of the equipment? (Round your answer to 2 decimal places.)