Question #7 - Calculate Solvency Ratio The following information was available for the year ended December 31, 2019: Sales Revenue $117,000 Wages Expense 29,000 Rent Expense 34,000 Net income 54,000 Total assets at year-end 390,000 Total liabilities at year-end 196,000 Required: a. Calculate the debt ratio at December 31, 2019. (Round your answer to 1 decimal place.) b. Calculate the debt/equity ratio at December 31, 2019. (Round your answer to 2 decimal places.) A