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At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes
At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 33,570 57,585 $ 28,435 84,062 104,655 8,974 255,824 $ 481,950 $ 122,406 87,888 162,500 109,156 $ 481,950 79,169 8,550 236,600 $415,474 $ 70,215 96,515 162,500 86,244 $415,474 $ 33,598 44,345 49,164 3,771 211,922 $ 342,800 $ 43,892 76,516 162,500 59,892 $ 342,800 The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Current Year 1 Year Ago $ 626,535 $ 494,414 $ 382,186 194,226 $ 321,369 125,087 11,372 7,416 595,208 10,651 8,145 Total costs and expenses Net income Earnings per share $ 31,327 $ 1.93 465,244 $ 29,170 $ 1.80 (3-a) Compute times interest earned for the current year and one year ago. (3-b) Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute times interest earned for the current year and one year ago. Times Interest Earned Numerator: Denominator: == Times Interest Earned Times interest earned
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