Compute the debt ratio from the data shown below: 2007 $1,290 9,890 13,760 $24,940 $18,060 $43,000 Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock Retained earnings Total common equity Total liabilities and equity $8,170 6,020 4,730 $18,920 $8,815 $27,735 $5,805 9,460 $15,265 $43,000 Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation 2007 $51,600 48,246 903 Total common equity Total liabilities and equity $15,265 $43,000 Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Earnings bef interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes Net income 2007 $51,600 48,246 903 $2,451 927 $1,524 533 $990 Other data: Shares outstanding (millions) Common dividends (millions of $) Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 500.00 $346.67 6.25% 35% $23.77 49.67% 64.50% 65.15% Other data: Shares outstanding (millions) Common dividends (millions of $) Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 500.00 $346.67 6.25% 35% $23.77 49.67% 64.50% 65.15% 76.11% 78.05%