Question - At January 1, 2019 ABC Company reported assets of $647,000; liabilities of $449,000; and equity of $198,000. During January, ABC Company recorded the following transactions:

1) The company purchased inventory on account. The cost of the inventory was $35,000

2) ABC received $40,000 from a customer for services to be performed at a later date

3) ABC paid its stockholders a dividend totaling $6,000

4) ABC performed 20% of the services for the customer from transaction (#2)

Calculate the debt-to equity ratio at January 31.