Question: Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand $ 10,000 Total Current Assets 150,000 Total

Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand $ 10,000 Total Current Assets 150,000 Total Fixed Assets 250,000 Total Assets $400,000 Accounts Payable $ 20,000 Overdraft Loan Payable 0 1-Year Bank Loan Payable 5,000 Current Portion of Long-Term Bank Loans 17,000 Total Current Liabilities 42,000 Long-Term Bank Loans Outstanding 138,000 Total Liabilities 180,000 . Year 11 Year 12 Shareholder Eqmty. Balance Change Common Stock 20,000 0 20,000 Additional Capital 120,000 0 120,000 Retained Earnings $0,000 20,000 80,000 Total Shareholder Equity 190,000 +20,000 220,000 Total Liabilities and Shareholder E-uit $400,000 Based on the above figures and the definition of the debt-assets ratio presented in the Help section for p. 5 of the Footwear Industry Report, the company's debt-assets ratio (rounded to 2 decimal places) is
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