Accounts payable Notes payable $543,000 $259,000 Current liabilities $802,000 Long-term debt $1,197,000 Common equity $5,483,000 Total liabilities and equity $7,482,000 (Related to Checkpoint 4.2) (Capital structure analysis) 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?