SunlandMedical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow.

Sunland Medical Comparative Balance Sheet As of December 31 2020 2019 Assets Current assets Cash $390,000 $417,450 Accounts receivable, net 1,079,000 776,450 Inventory 729,000 681,100 Other current assets 381,400 247,100 Total current assets 2,579,400 2,122,100 Property, plant, & equipment, net 8,659,740 8,439,815 Total assets $11,239,140 $10,561,915Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $3,178,000 3,702,700 6,880,700 58,900 104,600 4,194,940 4,358,440 $11,239,140 $2,846.050 3,892.600 6,733.650 58.900 103.850 3,660.515 3,823.265 $10,561.915 Sunland Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account} $10,177,200 $9,614,000 Cost of goods sold 5,61 1,950 5,298,800 Gross prot 4,565,250 4,315,200 Operating expenses 2,840,200 2,634,150 Net operating income 1,725,050 1,681,050 Interest expense 300,300 308,600 Net income before taxes 1,424,750 1,372,450 Income taxes (30%) 427,425 411,735 Net income $997,325 $960,7 15 Dividends paid Preferred dividends 29,5 50 2 9,450 Common dividends 433,350 413,100 Total dividends paid 462,900 442,550 Net income retained 534,425 518,165 Retained earnings, beginning of year 3,660,515 3,142,350 Retained earnings, end of year $4,194,940 $3,660,515 Calculate the following leverage ratios for 2020. (Round all answers to 2 decimal places, e.g. 2.55% or 2.55.) % a. Debt ratio b. Debt-to-equity ratio C. Times interest earned ratio times