| Surfs Up. A Manufactur y D CH9 Hw ot secure | ezto.mheducation.com/hm.tpx?-0.5

Question

| Surfs Up. A Manufactur y D CH9 Hw ot secure | ezto.mheducation.com/hm.tpx?-0.586406858706016. 1511123480111 D wet Advisor Main M !! Apps - CH9 HW RealtyStore. com Hor Raleigh, NC 3 Bed 2 E D http://w w truliaconBrys vaageTownl BETTER THAN NASSE n Question 3 (of 3) 10.00 points - Surfs Up, a manufacturer of surfing supplies and training equipment, has the following selected data (S in millions) Surfs Up Selected balance sheet data Total assets Total liabilities Total stockholders' equity 2018 2017 $727 $718 628 530 99 188 Surfs Up Selected income statement data 2018 $795 15 Sales revenue Interest expense Tax expense Net inconpe

Explanation / Answer

Debt to equity ratio Total liabilities / Stock holder's equity = 628 99 6.3% Return on assets ratio Net income / Average total assets = 66 (727 + 718) / 2 9.1% Times interest earned ratio Net income + Tax on income + Interest expenses = Earning before interest and taxes Interest expenses = Times interest earned ratio 66 44 15 125 15 8.3 times

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