The liabilities and$$ owners' equity for Campbell Industries is found$$ here:$$ Accounts payable

$$510,000$

Notes payable

$$251,000$

Current liabilities

$$761,000$

$$Long$-$term debt

$$1,185,000$

Common equity

$$4,862,000$

Total liabilities and equity

$$6,808,000$

a$.$What percentage of the$$ firm's assets does the firm finance using debt$($liabilities$)?$

b$.$If Campbell were to purchase a new warehouse for $$1\mathrm{.}4$ million and finance it entirely with$$ long$-$term debt, what would be the$$ firm's new debt$$ ratio?