Accounts payable $ 532,000

Notes payable $ 259,000

Current liabilities $ 791,000

Long-term debt $ 1,184,000

Common equity $ 4,526,000

Total liabilities and equity $6,501,000

The liabilities and owners' equity for Campbell Industries is found here:

.a.What percentage of the firm's assets does the firm finance using debt (liabilities)?

b.If Campbell were to purchase a new warehouse for $ 1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio?

a.What percentage of the firm's assets does the firm finance using debt (liabilities)?

The fraction of the firm's assets that the firm finances using debt is

___%.(Round to one decimal place.)