Galaxy United, Inc. 2009 Income Statement ($ in thousands)
Net sales	$5,780
Less: Cost of goods sold	4,070
Less: Depreciation	420
Earnings before interest and taxes	1,290
Less: Interest paid	32
Taxable Income	1,258
Less: Taxes	440
Net income	$ 818

Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in thousands)
	2008	2009			2008	2009
Cash	$ 70	$ 160		Accounts payable	$1,340	$1,240
Accounts rec.	990	840		Long-term debt	720	510
Inventory	1,520	1,960		Common stock	$3,140	$3,292
Total	$2,580	$2,960		Retained earnings	910	1,228
Net fixed assets	3,530	3,310
Total assets	$6,110	$6,270		Total liab. & equity	$6,110	$6,270

What is the debt-equity ratio for 2009?

.47

.39

.23

.46

.27