LOGIC COMPANY Comparative Income Statement Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses: Depreciation Selling and administrative Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes Net income \begin{tabular}{rr} \multicolumn{1}{c}{2023} & \multicolumn{2}{c}{2022} \\ $19,600 & $15,450 \\ 1,000 & 180 \\ \hline$18,600 & $15,350 \\ 11,850 & 8,850 \\ \hline$6,750 & $6,500 \\ \hline$760 & $630 \\ 2,650 & 2,300 \\ 610 & 530 \\ 420 & 330 \\ \hline$4,440 & $3,790 \\ \hline$2,310 & $2,710 \\ 620 & 530 \\ \hline$1,690 & $2,180 \\ 676 & 872 \\ \hline$1,014 & $4.308 \\ \hline \end{tabular} LOGIC COMPANY Comparative Balance Sheet December 31, 2022 and 2023 Falculate the total debt to total assets ratio. Jote: Do NOT enter your answer as a percentage (i.e., do not move the decimal two places to the right). Enter it as a proportion ounded to the nearest hundredth