Victory's Companies Balance Sheet May 31, 2018 and 2017 Assets Liabilities 2018 2017 2018 2017 Cash $ 2,300 $ 1,900 Total Current Liabilities $ 22,000 $ 12,700 13,300 11,300 Short-term Investments 25,000 13,000 Long-term Liabilities Accounts Receivable 7,100 5,400 Total Liabilities 34,700 24,600 Merchandise Inventory Stockholders' Equity 6,800 11,000 5,900 2,300 Other Current Assets Common Stock 13,000 33,500 13,000 14,900 Total Current Assets 52,200 29,000 All Other Assets 28,500 Retained Earnings 24,000 Total Equity 52,500 Total Liabilities and Equity 46,500 27,900 $ 81,200 $ $ 81,200 $ 52,500 Total Assets Victory's Companies Income Statement Years Ended May 31, 2018 and 2017 2018 2017 $ 43,700 $ 42,900 Net Sales Revenue Cost of Goods Sold 22,500 24,900 Interest Expense 700 320 All Other Expenses 7,500 7,800 $ 13,000 $ 9,880 Net Income Victory's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) : (Click the icon to view the balance sheets.) Victory's has 50,000 common shares outstanding during 2018. Read the requirements. Requirement 1. Compute the debt ratio and the debt to equity ratio at May 31, 2018, for Victory's Companies. Begin by selecting the formula to calculate Victory's Companies' debt ratio. Then enter the amounts and calculate the debt ratio for 2018. (Round the ratio to one tenth of a percent, X.X%.) Debt ratio