Calculate the debt/equity ratio at December 31, 2022.

The following information are relevant to the current liabilities of B Company as of December 31, 2022: a. A reconciliation of the company accounts payable general ledger to its subsidiary ledger appears below: Balance per general ledger Check issued to supplier on December 30, dated January 4 Check issued to supplier December 30, dated December 30 Check issued to supplier on January 3, dated December 30 Invoice price of goods received on January 5 Purchase in-transit as of December 31, FOB shipping point Purchase returns in December, credit memos received in January 5 Debit memos in suppliers account where there is no right of offset Balance per subsidiary ledger Php459,000 23,000 (19,000) (15,000) 20,000 25,000 (4,000) 10,000 Php499,000 The company reported total appliance sales at Php25,000,000. The company sold 1,000 units of its product in the current year. Each product sold is accompanied by a one-year service-type warranty contract. The warranty service can be sold separately at Php2,500 per service contract. During the current year, the company spent Php800,000 in warranty service-related costs and is expected to incur Php400,000 more to complete all service warranty contracts.