Please give me the correct answer of Total debt/Total assets and write the process. Thanks!

eBook 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) Cash $ 210,000 Accounts payable Receivables 1,575,000 Notes payable Inventories 1,150,000 Other current liabilities Total current assets $2,935,000 Total current liabilities Net fixed assets 1,360,000 Long-term debt Common equity Total assets $4,295,000 Total liabilities and equity $ 600,000 100,000 515,000 $1,215,000 400,000 2,680,000 $4,295,000 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 933,000 Earnings before interest and taxes (EBIT) $ 192,000 Interest expense 40,000 Earnings before taxes (EBT) $ 152,000 Federal and state income taxes (25%) 38,000 Net income $ 114,000 a. Calculate the indicated ratios for Lozano. Do not round intermediate calculations. Round your answers to decimal places. Ratio Lozano Industry Average Current assets/Current liabilities 2.0 2.42 Days sales outstanding (365-day year) 76.65 days 35.0 days COGS/Inventory 6.7 5.54 5.51 12.1 3.0 1.74 1.52 1.2% Sales/Fixed assets Sales/Total assets Net income/Sales Net income/Total assets Net income/Common equity Total debt/Total assets Total liabilities/Total assets 3.6% % 2.65 4.25 9.0% % 32.71 10.0% % 60.0% 37.60 %