Given the following information, what is the firm's debt ratio? BALANCE SHEET INFORMATION Cash = $850,000 Accounts receivable = (not given) Inventory = $1,160,000 Fixed Assets = $3,290,000 Total assets = $6,100,000 Accounts payable = (not given) Long-term debt = $2,400,000 Common stock = $730,000 Retained earnings = $2,670,000 Total liabilities and equity = $6,100,000 INCOME STATEMENT INFORMATION Sales = $12,200,000 Operating expense = $9,520,000 EBIT = $2,680,000 Interest expense = $288,000 EBT = $2,392,000 Taxes = $957,000 Net Income = $1,435,000 44.26% 39.34% 55.74% nterest expense P20 EBT = $2,392,000 Taxes = $957,000 Net Income = $1,435,000 O 44.26% 39.34% 55.74% 95.08% 88.03%