Selected financial statement Data for Ibra Co, are presented below Balance Sheet for the years ended December 31 2017 2016 Current Assets Cash 98 84 Acct receivable net 188 165 Inventory 422 393 Total current assets 708 642 Property, plant, and equipment 2,880 2,731 Total assets 3,588 3,373 Liabilities and Ownerst Equity 344 312 Accounts payable Notes payable Total current liabilities 196 231 540 543 457 531 Long-term debt Total Liabilities 997 1074 Owners' equity Share-capital 550 500 2,041 1.799 Retained earnings Total Stockholders' Equity Total liabilities and owners' equity 2,591 2,299 3,588 3,373 Income statement for the years ended December 31 Items 2017 2016 Sales Revenue 2,500 2,000 Less: Cost of Goods Sold (1,500) (1,200) Gross Profit 1000 800 (400) (250) Selling Administration Expenses Income before interest and tax expenses Interest axpenses 600 550 (300) (120) Income before income tax 300 430 Income Taxes (35%) (105) (151) Net Income 195 280 The Total Debt Ratio for December 31, 2016 is: Select one: Less: Cost of Goods Sold (1.500) (1,200) Gross Profit 1000 800 (400) (250) 600 550 Selling Administration Expenses Income before interest and tax expenses Interest expenses Income before income tax (300) (120) 300 430 Income Taxes (35%) (105) (151) Net Income 195 280 The Total Debt Ratio for December 31, 2016 is: Select one: ca. 0.28 b. 0.32 O c. 1.31 d. 1.18 e None of the answers are correct