How do I calculate the debt-to-equity ratio with this data?

Debt-to-Equity Ratio

Consider the following financial statement data for Hi-Tech Instruments:

For the Year Ended December 31
(Thousands of Dollars, except Earnings per Share)
Sales revenue	$215,000
Cost of goods sold	130,000
Net income	13,300
Dividends	7,600
Earnings per share	$4.15

HI-TECH INSTRUMENTS, INC.
Balance Sheets
(Thousands of Dollars)	Current Year	Prior Year
Assets
Cash	$23,300	$23,000
Accounts receivable (net)	51,000	46,000
Inventory	44,500	48,700
Total Current Assets	118,800	117,700
Plant assets (net)	57,600	55,500
Other assets	20,600	18,800
Total Assets	$197,000	$192,000
Liabilities and Stockholders Equity
Notes payablebanks	$11,000	$11,000
Accounts payable	27,500	23,700
Accrued liabilities	21,500	26,000
Total Current Liabilities	60,000	60,700
9% Bonds payable	45,000	45,000
Total Liabilities	105,000	105,700
Common stock	50,000	50,000
Retained earnings	42,000	36,300
Total Stockholders Equity	92,000	86,300
Total Liabilities and Stockholders Equity	$197,000	$192,000

* $25.00 par value; 2,000,000 shares

Industry Average Ratios for Competitors
Quick ratio	1.3
Current ratio	2.4
Accounts receivable turnover	5.9	times
Inventory turnover	3.5	times
Debttoequity ratio	0.73
Gross profit percentage	42.8	percent
Profit margin	4.5	percent
Return on assets	7.6	percent

Calculate the company's debt-to-equity ratio. Note: Round answers to two decimal places, when appropriate. Answer

Compare the result to the industry average.

The company's debt-to-equity ratio is higher or lower than the industry's average.