A corporation reports the following year-end balance sheet data. The company's equity ratio equals: 8 01:09:02 Cash Accounts receivable Inventory Equipment Total assets $ 55,000 Current liabilities 70,000 Long-term liabilities 75,000 Common stock 160,000 Retained earnings $360,000 Total liabilities and equity $ 90,000 45,000 115,000 110,000 $360,000 0 0 0 0 0