The Following Information Was Available for the Year Ended December

Multiple Choice

The following information was available for the year ended December 31, 2019: $\begin{array}{lr}\text { Earnings before interest and taxes (operating income) } & \$ 50,000 \\\text { Interest expense } & 10,000 \\\text { Income tax expense } & 12,000 \\\text { Net income } & 28,000 \\\text { Total assets at year-end } & 200,000 \\\text { Total liabilities at year-end } & 120,000\end{array}$
The debt ratio at December 31, 2019 was:

A) 40.0%
B) 60.0%
C) 66.7%
D) 150.0%