Galaxy United, Inc. 2015 Income Statement ($ in thousands)
Net sales	$5,680
Less: Cost of goods sold	4,060
Less: Depreciation	430
Earnings before interest and taxes	1,190
Less: Interest paid	31
Taxable Income	1,159
Less: Taxes	406
Net income	$ 753

Galaxy United, Inc. 2014 and 2015 Balance Sheets ($ in thousands)
	2014	2015			2014	2015
Cash	$ 75	$ 160		Accounts payable	$1,320	$1,200
Accounts rec.	970	850		Long-term debt	710	530
Inventory	1,480	1,960		Common stock	$3,075	$3,377
Total	$2,525	$2,970		Retained earnings	930	1,183
Net fixed assets	3,510	3,320
Total assets	$6,035	$6,290		Total liab. & equity	$6,035	$6,290

What is the debt-equity ratio for 2015?

.23

.28

.38

.45

.47