Why is the debt to equity ratio of 2016 29.47% ??

2017 2016

debt to equity ratio = total liabilities total owners' equity 29.46% 29.47%

T.| Wetsuits Ltd Statement of Financial Position As at 30 June 2017 2017 2016 5'000 5'000 Current assets Cash 2,990 304 Accounts receivable 913 507 Inventories 1,330 760 Total current assets 5,233 1,571 Non-current assets Property, plant and equipment 5,016 3,344 Intangible assets 152 152 Total non-current assets 5,168 3,496 Total assets 10,401 5,067 Current liabilities Accounts payable 221 245 Income tax payable 318 169 Accrued expenses 131 145 Total current liabilities 670 559 Non-current liabilities Bank loans 1,590 536 Provisions 107 89 Total non-current liabilities 1,697 725 Total liabilities 2,367 1,284 Net assets 8,034 3,783 Equity Share capital 1,135 946 Reserves 1,700 340 Retained earnings 5,199 2,497 Total Equity 8,034 3,783