Need help with Total liabilities/Total assets answer......... thank you.

Comprehensive Ratio Analysis Data for Lozano Chip Company and its industry averages follow. Lozano Chip Company: Balance Sheet as of December 31, 2019 (Thousands of Dollars) $ 230,000 Accounts payable $ 600,000 Receivables 1,575,000 Notes payable 100,000 Inventories 1,125,000 Other current liabilities 540,000 Total current assets $2,930,000 Total current liabilities $1,240,000 Net fixed assets 1,345,000 Long-term debt 400,000 Common equity 2,635,000 Total assets $4,275,000 Total liabilities and equity $4,275,000 Lozano Chip Company: Income Statement for Year Ended December 31, 2019 (Thousands of Dollars) Sales $7,500,000 Cost of goods sold 6,375,000 Selling, general, and administrative expenses 937,000 Earnings before interest and taxes (EBIT) $ 188,000 Interest expense 40,000 Earnings before taxes (EBT) $ 148,000 Federal and state income taxes (25%) 37,000 Net income $ 111,000 a. 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 2.36 2.0 Days sales outstanding (365-day year) 76.65 days 35.0 days COGS/Inventory 6.7 5.67 Sales/Fixed assets 12.1 5.58 1.75 Sales/Total assets 3.0 90 Net income/Sales 1.48 1.2% Net income/Total assets 2.60 96 3.6% Net income/Common equity 4.21 06 9.0% Total debt/Total assets 0.8 10.0% Total liabilities/Total assets 38.36 96 60.0% b. Use the extended DuPont equation to calculate ROE for both Lozano and the industry. Do not round intermediate calculations. Round your answers to two decimal places. For the firm, ROE IS 4.21 For the industry, ROE is 9 c. Outline Lozano's strengths and weaknesses as revealed by your analysis