Question
Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period Revenues Expenses Net Income
Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period Revenues Expenses Net Income Current Assets Long-term Assets $232,000 195,040 $ 66,000 198,000 $ 36,960 Total Assets $264,000 Current Liabilities $ 50,000 Long-term Liabilities 96,000 Total Liabilities 146,000 Common Stock $ 56,000 Retained Earnings 62,000 Total Equity 118,000 Total Liabilities and Equity $264,000 What is the company's debt-to-assets ratio?
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