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The following data were taken from the financial statements of Hunter Inc for December 31...

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The following data were taken from the financial statements of Hunter Inc for December 31 of two recent years Current Year 140 000 290 000 1 490 000 80 000 840 000 2 920 000 Previous Year Accounts payable 212 000 Current maturities of serial bonds payable 290 000 Serial bonds payable 10 1 780 000 Common stock 1 par value 100 000 Paid in capital in excess of par 850 000 Retained earnings 2 310 000 The income before income tax expense was 676 400 and 591 900 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 c The ratio of liabilities to stockholders equity has 3 from the previous year These results are the combined result of a interest expense in the current year compared to the previous year 3 and the number of times bond interest charges were earned has income before income taxes and

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