The following information was available for the year ended December 31, 2022:

Earnings before interest and taxes (operating income)	$ 50,000
Interest expense	10,000
Income tax expense	12,000
Net income	28,000
Total assets at year-end	200,000
Total liabilities at year-end	120,000

The debt ratio at December 31, 2022 was:

Multiple Choice

A) 60.0%

B) 150.0% - I chose this one based upon debt-ratio calculation atleast I though was correct but marked me wrong.

C) 66.7%

D) 40.0%