The liabilities and owners' equity for Campbell Industries is found here: 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 $1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio?

Accounts payable	$524,000
Notes payable	$245,000
Current liabilities	$769,000
Long-term debt	$1,113,000
Common equity	$4,633,000
Total liabilities and equity	$6,545,000