Apple has the following financial statement information for fiscal year 2001 (in millions):

Income Statement	2001	Balance Sheet	2001	2000
Revenues	$5,363	Cash and Marketable Securities	$2,310	$1,191
Cost of Goods Sold	4,026	Inventory	11	33
Gross Profit	1,337	Total Current Assets	5,143	5,427
SG&A Exp.	1,568	Total Assets	6,021	6,803
Net Income (Net Loss)	-25	Total Current Liabilities	1,518	1,933
		Total Liabilities	2,101
		Total Equity	3,920	4,107
Sales (Year 2000)	7,983	Cash Flow Statement
Net Income (Year 2000)	786	Cash Flows from Operations	185

Using common-size analysis, Apple's total liabilities for 2001 is:

	a.	34.9%
	b.	53.6%
	c.	38.7%
	d.	39.2%