Calculating the Debt Ratio and the Debt-to-Equity Ratio

Ernst Company's balance sheet shows total liabilities of $32,766,300, total stockholders' equity of $8,998,000, and total assets of $41,764,300.

Required:

1. Calculate the debt ratio. Round the percentage to two decimal places. fill in the blank 1%

2. Calculate the debt-to-equity ratio. Round to two decimal places. fill in the blank 2