The balance sheet for Altoid Company is shown below.

ALTOID COMPANY

Balance Sheet

December $31,2024$

Assets:

Cash $ $310$

Short$-$term investments $1,000$

Accounts receivable $($net$)1,100$

Inventory $1,250$

Property, plant, and equipment $($net$)1,120$

Total assets $ $4,780$

Liabilities and shareholders' equity:

Current liabilities $ $1,250$

Long$-$term liabilities $1,400$

Common stock $950$

Retained earnings $1,180$

Total liabilities and shareholders' equity $ $4,780$

Selected $2024$ income statement information for Altoid Company includes:

Net Sales $ $9,300$

Operating expenses $8,430$

Income before interest and tax $870$

Interest expense $120$

Income tax expense $225$

Net income $ $525$

Required:

Compute Altoid Company's long$-$term debt to equity ratio for $2024.$