16. Refer to Bellingham incorporated's December 31, 2019 Balance Sheet shown below. Bellingham Incorporated Balance Sheet as of December 31, 2019 Assets Current Assets Cash Inventory Accounts Receivables Total Current Assets $130,000 80,000 40,000 $250,000 Liabilities Current Liabilities Accounts Payable $90,000 Notes Payable 110,000 Total Current abilities $200,000 Non-current liabilities Debt 150,000 Owner's Equity Common Stock 220,000 Retained Earnings 80,000 Total Liabilities and Owner's Equity $650,000 Non-current Assets Plant and Equipment (Net) Patents (Net) Total Assets 350,000 50,000 $650,000 What is Bellingham's total debt to equity ratio on December 31, 2019? O 0.50 0.87 1.09 1.17