LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2014 and 2015
	2015		2014
Gross sales	$	22,800	$	17,850
Sales returns and allowances		900		100
Net sales	$	21,900	$	17,750
Cost of merchandise (goods) sold		11,050		7,700
Gross profit	$	10,850	$	10,050
Operating expenses:
Depreciation	$	1,080	$	790
Selling and administrative		5,050		3,900
Research		930		690
Miscellaneous		740		490
Total operating expenses	$	7,800	$	5,870
Income before interest and taxes	$	3,050	$	4,180
Interest expense		940		690
Income before taxes	$	2,110	$	3,490
Provision for taxes		844		1,396
Net income	$	1,266	$	2,094

LOGIC COMPANY Comparative Balance Sheet December 31, 2014 and 2015
	2015		2014
Assets
Current assets:
Cash	$	11,800	$	8,600
Accounts receivable		16,100		12,100
Merchandise inventory		8,100		13,600
Prepaid expenses		23,600		9,600
Total current assets	$	59,600	$	43,900
Plant and equipment:
Building (net)	$	14,000	$	10,600
Land		13,100		8,600
Total plant and equipment	$	27,100	$	19,200
Total assets	$	86,700	$	63,100
Liabilities
Current liabilities:
Accounts payable	$	12,600	$	6,600
Salaries payable		6,700		4,600
Total current liabilities	$	19,300	$	11,200
Long-term liabilities:
Mortgage note payable		21,600		20,100
Total liabilities	$	40,900	$	31,300
Stockholders Equity
Common stock	$	20,600	$	20,700
Retained earnings		25,200		11,100
Total stockholders equity	$	45,800	$	31,800
Total liabilities and stockholders equity	$	86,700	$	63,100

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

	2015	2014
Total debt to total assets ratio