On its December 31 balance sheet, XYZ Company reported total assets of \$880,000 and total equity of \$320,000. What is the company's debt ratio?

At the beginning of the year, ABC Company had total assets of \$600,000, Total Liabilities of \$360,000, and Total Equity of \$240,000. At the end of the year, total assets had increased to \$800,000, Total Liabilities decreased to \$320,000 and Total Equity increased to \$480,000. What was the change in the company's debt ratio during the year?