Chestnut, Inc. reported the following balances on its balance sheet at December 31, Year 1: $244,000 $ 78,000 Total assets Total liabilities Common Stock Retained Earnings Total equity Total liabilities and equity $78,000 88,000 166,000 $244,000 On January 1 Year 2, Chestnut purchased equipment for $47,000 on account. What is the company's debt-to-assets ratio ratio immediately after the purchase of the equipment? Multiple Choice O 0.42 0.37 0.32