A December 31,201 23 250 Property Plant and Equipment 152 800 Total Assets 531.4

Question

A December 31,201 23 250 Property Plant and Equipment 152 800 Total Assets 531.400 Liabilities Accounts Payable Curment Potion of Long-Term Debt 51,700 Long-Term Notes Payable Total Liabilties 237 000 Stockholders Equity Contributed Capital Retained Eamings 200.000 onal Stockholders Equey 204 400 Total Liabilities and Stockholders Equity $531,400 Girs Fish and Tackle, Inc Income Statement 3 For the year ending December 31, 2018 Saies Ravenue 2.015.000 Operating Expenses Salaries and Wages Expense peratng and Admn Expenses Depreciation Expense 500 1,000 2.549,100 386,900 18.850 Operating Expenses Operating Incoe Othar Expees nterest Expense 48 050 income Before Income Tax Expes ncome Tax Expense Net Income S 210.33 Required Calcuiane the dl--srasio and the times ntreearned for the folowing company answees to 2 decimal places eat Earned

Explanation / Answer

Debt to assets ratio = Total Liabilities/Total assets = 237000/531400= 44.60% Times interest earned = Operating income/Interest expense = 365900/16950= 21.59

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