Tolbert Plumbing Products Ltd. reported the following data in 2021 (in millions):

Compute Tolbert’s leverage ratio, debt ratio, and times-interest-earned ratio, and write a sentence to explain what those ratio values mean. Use year-end figures in place of averages where needed for the purpose of calculating the ratios. Would you be willing to lend Tolbert $1 million? Why or why not?

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Net operating revenues Operating expenses. Operating income .... Nonoperating items: Interest expense Other...... Net income... Total assets Total common stockholders' equity... 2021 $28.9 24.2 4.7 (0.8) (0.2) $ 3.7 $150.0 57.0