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eBook Print Item Ratio of Liabilities to Stockholders' Equity and Number...

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Accounting

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eBook Print Item Ratio of Liabilities to Stockholders' Equity and Number of Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Previous Year Accounts payable $779,000 $204,000 Current maturities of serial bonds payable 480,000 480,000 Serial bonds payable, 10% 1,940,000 2,420,000 Common stock, $1 par value 90,000 120,000 Paid-in capital in excess of par 1,010,000 1,010,000 Retained earnings 3,470,000 2,750,000 The income before income tax was $556,600 and $487,000 for the current and previous years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year Previous year b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Previous year ci The ratio of liabilities to stockholders equity based The rest are the combined resuko and the number of times bond interest charges were ancome before income taxes and lower

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