As the chief financial officer of Adirondack Designs, you have the following information:

Next years expected net income after tax but before new financing	$ 39	million
Sinking-fund payments due next year on the existing debt	$ 14	million
Interest due next year on the existing debt	$ 9	million
Common stock price, per share	$ 27.5
Common shares outstanding	19	million
Company tax rate	35%

1. Calculate Adirondacks times-interest-earned ratio for next year assuming the firm raises $49 million of new debt at an interest rate of 2 percent.
2. Calculate Adirondacks times-burden-covered ratio for next year assuming annual sinking-fund payments on the new debt will equal $4.0 million.
3. Calculate next years earnings per share assuming Adirondack raises the $49 million of new debt.
4. Calculate next years times-interest-earned ratio, times-burden-covered ratio, and earnings per share if Adirondack sells 1.4 million new shares at $24 a share instead of raising new debt.