Lozano Chip Company: Balance Sheet as of December 31, 2019 (Thousands of Dollars)

Cash$ 225,000 Accounts payable$ 600,000 Receivables1,575,000 Notes payable100,000 Inventories1,145,000 Other current liabilities 540,000 Total current assets$2,945,000 Total current liabilities $1,240,000 Net fixed assets1,360,000 Long-term debt 400,000 Common equity2,665,000

Total assets $4,305,000 Total liabilities and equity$4,305,000

Calculate the indicated ratios for Lozano. Do not round intermediate calculations. Round your answers to two decimal places.

Ratio Lozano Industry Average

Current assets/Current liabilities 2.38 2.0 Days sales outstanding (365-day year) 76.65 35.0 days COGS/Inventory 5.57 6.7 Sales/Fixed assets 5.52 12.1 Sales/Total assets 1.74 3.0 Net income/Sales % 1.64 1.2 % Net income/Total assets % 2.86 3.6 % Net income/Common equity % 4.62 9.0 % Total debt/Total assets % ??? 10.0 % Total liabilities/Total assets % 38.10 60.0 %

I had 9.29% for total debt ratio but when I check my work, it says it's wrong. Please help me calculate (and show work)