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

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Accounting

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

Line Item Description Current Year Previous Year
Accounts payable $500,000 $150,000
Current maturities of serial bonds payable 330,000 330,000
Serial bonds payable, 10% 1,360,000 1,690,000
Common stock, $1 par value 80,000 90,000
Paid-in capital in excess of par 800,000 810,000
Retained earnings 2,770,000 2,200,000

The income before income tax expense was $574,600 and $502,800 for the current and previous years, respectively.

a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round your answers to one decimal place.

Line Item Description Ratio
Current year fill in the blank 1
Previous year fill in the blank 2

b. Determine the times interest earned ratio for both years. Round your answers to one decimal place.

Line Item Description Ratio
Current year fill in the blank 3
Previous year fill in the blank 4

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