Kellogg Companyis the world's leading producer of ready-to-eat cereal products. In recent years, the company has taken numerous steps aimed at improving its profitability and earnings per share. Presented below are some basic facts for Kellogg.

2014 2013

Net sales $14,580 $14,792

Net income 632 1,807

Total assets 15,153 15,474

Total liabilities 12,302 11,867

Common stock, $0.25 par value

105 105

Capital in excess of par value

678 626

Retained earnings 6,689 6,749

Treasury stock, at cost

3,470 2,999

Number of shares outstanding (in millions)

358 363

(c1)Calculate the ratio of debt to assets for 2014 and 2013.