The following data were taken from the financial statements of Weal Construction Inc. for December 31, 2014 and 2013:
| Dec. 31, 2014 | Dec. 31, 2013 | |||
| Accounts payable | $666,000 | $199,000 | ||
| Current maturities of serial bonds payable | 440,000 | 440,000 | ||
| Serial bonds payable, 10%, issued 2009, due 2019 | 1,840,000 | 2,280,000 | ||
| Common stock, $1 par value | 100,000 | 130,000 | ||
| Paid in capital in excess of par | 1,080,000 | 1,080,000 | ||
| Retained earnings | 3,730,000 | 2,960,000 | ||
The income before income tax was $843,600 and $738,200 for the years 2014 and 2013, respectively.
a.Determine the ratio of liabilities to stockholders’ equity at the end of each year. Round to one decimal place.