Mitchell Florists Had the Following Total Assets, Liabilities, and Equity

Multiple Choice

Mitchell Florists had the following total assets, liabilities, and equity as of December 31. $$\begin{array} { | l | r | } \hline \text { Assets } & \$ 450,000 \\\hline \text { Liabilities } & 135,000 \\\hline \text { Equity } & 315,000 \\\hline\end{array}$$ What is Mitchell's debt ratio as of December 31?

A) 30%
B) 70%
C) 100%
D) 43%