LO $4\mathrm{.}3$ LO $4\mathrm{.}6$ Baggett Company$$s balance sheet accounts and amounts as of December $31,2019,$ are shown in random order as follows:

A table shows the balance sheet accounts and amounts as of December $31,2019$ in two columns. The column headers are Account and Debit $($credit$).$ The data of the table are as follows: Income Taxes Payable $$,(3,800)$; Prepaid Items $1,800$ Stock $$,(7,900)$; Additional Paid$-$in Capital on Common Stock $(9,300)$; Land, $12,200$; Notes Payable $($due $2022),(6,000)$; Notes Receivable $($due $2021),16,400$; Accounts Receivable, $12,600$; Premium on Bonds Payable, $(1,400)$; Accounts Payable, $(13,100)$; Inventory, $7,400$; Accumulated Depreciation: Buildings, $(21,000)$; Patents $($net$),4,600$; Equipment, $28,700$; Additional Paid$-$in Capital on Preferred Stock, $ $(7,900)$; Allowance for Doubtful Accounts, $(1,600)$; Bonds Payable $($due $2023),(23,000)$; Buildings, $57,400$; Sinking Fund to Retire Bonds Payable, $5,000$; Advances from Customers $($long$-$term$),(2,600)$; Cash, $4,300$; Accumulated Depreciation: Equipment, $(9,700)$; Retained Earnings, $(18,300)$; Preferred Stock, $$100$ par, $(18,600)$; Wages Payable $(1,400),$ and Common Stock, $$10$ par $(12,700).$Enlarge Image

Required:

Prepare a December $31,2019,$ balance sheet for Baggett.

Compute the debt$-$to$-$assets ratio.