Question 42 2 points Save Answer Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) 2019 Assets Cash and securities $4,200 Accounts receivable 17,500 20,300 Inventories Total current assets $42,000 $28,000 Net plant and equipment $70,000 Total assets Liabilities and Equity Accounts payable $22,509 Accruals 14,391 Notes payable 6,000 Total current liabilities $42,900 Long-term bonds $11,000 Total liabilities $53,900 Common stock $3,542 Retained earnings 12,558 $16,100 Total common equity $70,000 Total liabilities and equity Income Statement (Millions of $) Net sales 2019 $105,000 Operating costs except depreciation 97,650 2,100 Depreciation $5,250 Earnings before interest and taxes (EBIT) Less interest 1,020 Earnings before taxes (EBT) $4,230 Taxes 1,058 $2,538 Net income 500.00 Other data: Shares outstanding (millions) Common dividends (millions of $) Int rate on notes payable & L-T bonds $888.30 6% 40% Federal plus state income tax rate Year-end stock price $60.91 Refer to Exhibit 4.1. What is the firm's total debt to total capital ratio? Do not round your intermediate calculations. a. 53.93% b. 58.04% C. 51.36% d. 47.76% e. 43.14%