The following information for Great Oaks Furniture, a retail furniture and design firm, relates to Exercises 6 through 11.

Calculate the current ratio, the acid-test miam ratio, the debt-to-equity ratio and times interest earned for 2008 and 2009. Assume that Great Oaks Furniture was applying for a business loan and you are the loan officer. Do you have any concerns about lending them money?

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Great Oaks Furniture Balance Sheets December 31, December 31, 2009 2008 Assets Current assets: Cash Accounts receivable Inventory Prepaid expenses $ 35,684 $ 45,850 523,489 4,675,540 410,378 4,457,540 80,147 79,585 Total current assets 5,314,860 4,993,353 Building and equipment, net 1,013,021 1,012,256 Total assets $6,327,881 $6,005,609