Markus Companys common stock sold for $3.50 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this years financial statements:

	Ending Balance	Beginning Balance
Cash	$ 35,000	$ 34,000
Accounts receivable	$ 70,000	$ 55,000
Inventory	$ 60,700	$ 70,000
Current assets	$ 165,700	$ 159,000
Total assets	$ 557,000	$ 586,800
Current liabilities	$ 67,500	$ 55,500
Total liabilities	$ 152,000	$ 136,800
Common stock, $1 par value	$ 133,000	$ 133,000
Total stockholders equity	$ 405,000	$ 450,000
Total liabilities and stockholders equity	$ 557,000	$ 586,800

	This Year
Sales (all on account)	$ 825,000
Cost of goods sold	$ 478,500
Gross margin	$ 346,500
Net operating income	$ 194,250
Interest expense	$ 10,500
Net income	$ 128,625

14. What is the debt-to-equity ratio at the end of this year?