The balance sheet for Altoid Co. is shown below. ALTOID CO. Balance Sheet At December 31, 2021 Assets: Cash $ 200 Short-term investments 450 Accounts receivable (net) 550 Inventory 700 Property, plant, and equipment (net) 1,200 Total assets $ 3,100 Liabilities and shareholders' equity: Current liabilities $ 700 Long-term liabilities 850 Common stock 400 Retained earnings 1,150 Total liabilities and shareholders' equity $ 3,100 Selected 2021 income statement information for Altoid Co. includes: Net Sales $ 8,200 Operating expenses 7,290 Income before interest and tax 910 Interest expense 110 Income tax expense 240 Net income $ 560 Required: Compute the following financial statement ratios for 2021: Altoid Co.'s debt to equity ratio. (Round your answer to 2 decimal places.)