(Related to Checkpoint 4.2) (Capital structure analysis) The liabilities and owners' equity for Campbell Industries is found here: a. What percentage of the firm's assets does the firm finance using debt (liabilities)? b. If Campbell were to purchase a new warehouse for $1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio? a. What percentage of the firm's assets does the firm finance using debt (liabilities)? The fraction of the firm's assets that the firm finances using debt is \%. (Round to one decimal place.) \begin{tabular}{lr} \hline Accounts payable & $530,000 \\ Notes payable & $245,000 \\ \cline { 2 } Current liabilities & $775,000 \\ \cline { 2 } Long-term debt & $1,117,000 \\ Common equity & $4,757,000 \\ \hline Total liabilities and equity & $6,649,000 \\ \hline \end{tabular}