Chestnut, Inc. reported the following balances on its balance sheet at December 31, Year 1: Total Assets $262,000 Total liabilities $ 90,000 Common Stock Retained Earnings Total Equity 91,000 81,000 172,000 Total Liabilities and Equity $262,000 On January 1, Year 2, Chestnut purchased equipment for $56,000 on account. What is the company's debt-to-assets ratio immediately after the purchase of the equipment? (Round your answer to 2 decimal places.) Multiple Choice 034 0.46 0.40 O 0.39