Fig Company reported the following amounts on its balance sheet as of December 31, 20X9 and December 31, 20X8: 2019 2018 Cash and Receivables $105,000 $95,000 Merchandise Inventory 205,000 150,000 Property, Plant and Equipment, net 800,000 780,000 Total Assets $1,110,000 $1,025,000 Total Liabilities $505,000 $385,000 For the vertical analysis, what is the percentage of total liabilities for December 31, 20X8