On October 31,2018,assume That Steelco Inc

On October 31,2018,assume that Steelco Inc.had $20.9 billion in Cash,Short-Term Investments,and (Net)Accounts Receivable and $26.1 billion in current liabilities.Also it had $20.4 billion in Long term assets.On October 3,2018,the company received $350 million when it issued long term promissory notes.The notes will mature in 2023 and pay interest at the annual rate of 7%.Steelco's fiscal year ends on October 31.Journalize the issuance on Oct.3 and the accrual of interest,at year-end.What is the debt-to-assets ratio for Steelco on October 31?
$$\begin{array} { | l | l | r | r| } \hline \text { Date } & \text { Account } & \text { Debit } & \text { Credit } \\\hline \text { Oct. 3, 2018 } & \text { Cash } & \$ 350,000,000 & \\\hline & \text { Notes Payable } & & \$ 350,000,000 \\\hline \text { Oct 31, 2018 } & \text { Interest Expense } & \$ 2,041,667 & \\\hline & \text { Interest Payable } & & \$ 2,041,667 \\\hline\end{array}$$