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The Following Information Pertains to Jasmin Corporation 31,20xx 31,20 \mathrm{xx}

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The following information pertains to Jasmin Corporation.Assume that all balance sheet amounts represent both average and ending figures. Jasmin Corporation
Partial Balance Sheet
December 31,20xx 31,20 \mathrm{xx}
 Liabilities and Stockholders’ Equity  Current liabilities $60,000 Long-term liabilities 90,000 Stockholders’ equity 150,000 Total liabilities and stockholders’ equity $300,000\begin{array}{lr}\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } & \$ 60,000 \\\text { Long-term liabilities } & 90,000 \\\text { Stockholders' equity } & 150,000\\\text { Total liabilities and stockholders' equity }&\$300,000\end{array}
Jasmin Corporation
Income Statement
For the Year Ended December 31, 20xx
 Net sales $80,000 Cost of goods sold 45,000 Gross margin $35,000 Operating expenses 15,000 Income before income taxes $20,000 Income taxes expense 5,000 Net income $15,000\begin{array}{lr}\text { Net sales } & \$ 80,000 \\\text { Cost of goods sold } & 45,000\\\text { Gross margin } & \$ 35,000 \\\text { Operating expenses } & 15,000\\\text { Income before income taxes } & \$ 20,000 \\\text { Income taxes expense } & 5,000\\\text { Net income }&\$15,000\end{array}
Jasmin Corporation had 6,000 shares of common stock issued and outstanding.The market price of Jasmin common stock on December 31,20xx,was $20.Jasmin paid dividends of $0.90 per share during 20xx.
What is the debt to equity ratio for this corporation? Round your answer to one decimal place.


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