Advertising expenditures      78,000

Cost of goods sold 2,433,000

Depreciation      78,000

Gross sales 3,210,000

Interest expenses                                64,000

Lease payment      52,000

Management salary                         240,000

Material purchase                         2,425,000

R&D expenditures                              35,000

Repair and maintenance costs      22,000

Returns and allowances                    48,000

Taxes                                                     51,000

Treasury stock      20,000

——————————————

Gross fixed assets            284,950

Inventory                            136,500

Accrued expenses                    11,850

Accumulated depreciation        82,310

Notes payable                         32,570

Preferred stock                            8,000

Retained earnings                    89,280

Current portion of L-T debt            4,080

Long-term debt             134,300

Accounts receivable             105,770

Additional paid-in capital         71,600

Accounts payable                      50830

Common stock ($0.50 par)        60,000

Cash & Equivalents                               ?

Marketable securities    20,500

——————————————

What is the proportion ZEBRA’ long-term debt as a percentage of total assets (Debt ratio) as of the end of 2016? If the industry’s median debt ratio was 30 percent, what would be your assessment of ZEBRA’s debt ratio?