LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017
	2017		2016
Gross sales	$	19,600	$	15,450
Sales returns and allowances		1,000		100
Net sales	$	18,600	$	15,350
Cost of merchandise (goods) sold		11,850		8,850
Gross profit	$	6,750	$	6,500
Operating expenses:
Depreciation	$	760	$	630
Selling and administrative		2,650		2,300
Research		610		530
Miscellaneous		420		330
Total operating expenses	$	4,440	$	3,790
Income before interest and taxes	$	2,310	$	2,710
Interest expense		620		530
Income before taxes	$	1,690	$	2,180
Provision for taxes		676		872
Net income	$	1,014	$	1,308

LOGIC COMPANY Comparative Balance Sheet December 31, 2016 and 2017
	2017		2016
Assets
Current assets:
Cash	$	12,300	$	9,300
Accounts receivable		16,800		12,800
Merchandise inventory		8,800		14,300
Prepaid expenses		24,300		10,300
Total current assets	$	62,200	$	46,700
Plant and equipment:
Building (net)	$	14,800	$	11,300
Land		13,800		9,300
Total plant and equipment	$	28,600	$	20,600
Total assets	$	90,800	$	67,300
Liabilities
Current liabilities:
Accounts payable	$	13,300	$	7,500
Salaries payable		7,300		5,300
Total current liabilities	$	20,600	$	12,800
Long-term liabilities:
Mortgage note payable		22,300		20,800
Total liabilities	$	42,900	$	33,600
Stockholders Equity
Common stock	$	21,500	$	21,200
Retained earnings		26,400		12,500
Total stockholders equity	$	47,900	$	33,700
Total liabilities and stockholders equity	$	90,800	$	67,300

Calculate the total debt to total assets ratio. (Enter your response as a decimal rounded to 2 places.)

	2017	2016
Total debt to total assets ratio