Based on the information in financial statements for Emerson Corporation, the debt ratio is

Note: Carry your answer out at least two decimal places.

Emerson Corporation

Balance Sheet Income Statement

Assets:
Cash	$250,000		Sales (all credit)	$8,000,000
Accounts receivable	450,000		Cost of goods sold	(4,000,000)
Inventory	500,000		Operating expense	(2,900,000)
Net fixed assets	2,100,000		Interest expense	(150,000)
Total assets	$3,300,000		Income taxes	(380,000)
			Net income	$570,000
Liabilities and owners' equity:
Accounts payable	$100,000
Notes payable	450,000
Long-term debt	1,050,000
Owners' Equity	1,700,000
Total liabilities and owner's equity	$3,300,000

Based on the information in financial statements for Emerson Corporation, the debt ratio is

Note: Carry your answer out at least two decimal places.

Emerson Corporation

Balance Sheet Income Statement

Assets:
Cash	$250,000		Sales (all credit)	$8,000,000
Accounts receivable	450,000		Cost of goods sold	(4,000,000)
Inventory	500,000		Operating expense	(2,900,000)
Net fixed assets	2,100,000		Interest expense	(150,000)
Total assets	$3,300,000		Income taxes	(380,000)
			Net income	$570,000
Liabilities and owners' equity:
Accounts payable	$100,000
Notes payable	450,000
Long-term debt	1,050,000
Owners' Equity	1,700,000
Total liabilities and owner's equity	$3,300,000