ABC Company's balance sheets for 2019 are given below: January 1, 2019 December 31, 2019 ASSETS: Cash 12,300 18,700 Accounts receivable 31,900 46,300 Inventory 58,200 69,200 Land 82,900 92,400 LIABILITIES + EQUITY: Accounts payable 35,400 43,200 Notes payable 64,900 ? Common stock 39,700 48,100 Retained earnings 45,300 ? ABC Company's 2019 income statement is given below: Sales revenue 400,000 Cost of goods sold 285,000 Salaries expense ? Interest expense 20,000 Income tax expense 19,000 Net income ? ABC Company paid dividends of $28,400 during 2019 and reported a times interest earned ratio of 4.20 for 2019. Calculate ABC Company's debt-to-equity ratio at December 31, 2019.