Balance Sheet Current assets Cash 1,010,000 Acc receivable not given Inventories 1,150,000 Fixed assets 4,100,000 TOTAL ASSETS 7, 200,000 Current liabilities Acc payable not given Long-term debt 2,900,000 Common stock 1,010,000 Retained earnings 2,830,000 TOTAL LIAB and EQUITY 7,200,000 Income Statement Sales 21,600,000 Operating expense 18, 140,000 EBIT 3,460,000 Interest expense 348,000 EBT 3,112,000 Taxes 1, 245,000 Net income 1,867,000 What is the firm's debt ratio? Net income 1,867,000 What is the firm's debt ratio? 93.61% 0 40.28% 53.33% 46.67% 85.97%