Capital structure analysis)The liabilities and owners' equity for Campbell Industries is found here

Accounts payable	$ 506,000
Notes payable	$249,000
Current liabilities	$755,000
Long-term debt	$1,105,000
Common equity	$4,505,000
Total liabilities and equity	$6,365,000

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 $ 1.2 million and finance it entirely with long-term debt, what would be the firm's new debt ratio?