JP Corporation reports the following year-end balance sheet data. The company's debt ratio equals: Cash Accounts receivable Inventory Equipment Total assets $ 60,000 Current liabilities 74,000 Long-term liabilities 79,000 Common stock 164,000 Retained earnings $377,000 Total liabilities and equity $ 94,000 22,000 119,000 142,000 $ 377,000 Multiple Choice 0.31 0.69 2.27 0.44