Joseph and John, Inc., had the following balance sheet results for 2012: $\begin{array}{lr}
&\text { (in millions) }\
\text { Current liabilities } & \$ 12.6 \
\text { Bonds payable } & 18.6 \
\text { Lease obligations } & 2.7 \
\text { Noncontrolling interest } & 1.4\
\text { Common stock } & 8.6 \
\text { Retained earnings } & 22.9 \
&\$66.8
\end{array}$ Compute the debt-equity ratio.

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Joseph and John, Inc Compute the Debt-Equity Ratio