What percentage of the firm's assets does the firm finance using debt (liabilities)? The fraction of the firm's assets that the firm finances using debt is ____%. Current liabilities and owner's equity are ..Accounts Payable $497,000 Notes Payable $249,000 = $746,000 in current liabilities and Long-term debt $1,140,000 Common equity 5,030,000 = $6,916,000 in Total liabilities and equity