Reliable Moving Company Reported the Following Amounts on Its Balance

Reliable Moving Company reported the following amounts on its balance sheet as of December 31,2019 and December 31,2018: $$\begin{array} { | l | r | r | } \hline &{ 2019 } & { 2018 } \\\hline \text { Cash and Receivables } & \$ 135,000 & \$ 135,000 \\\hline \text { Merchandise Inventory } & 185,000 & 150,000 \\\hline \text { Property, Plant and Equipment, net } & 780,000 & 740,000 \\\hline \text { Total Assets } & \$ 1,100,000 & \$ 1,025,000 \\\hline \text { Total Liabilities } & \$ 435,000 & \$ 465,000 \\\hline\end{array}$$ For the vertical analysis,what is the percentage of total liabilities for December 31,2018? (Round your answer to two decimal places.)

A) 100.00%
B) 39.55%
C) 29.03%
D) 45.37%