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At May 31, 2019, Bailey-Reed Group reported the following amounts (in millions) in its financial statements: 2019 2018 Total Assets $ 73,000 $ 71,000 Total
At May 31, 2019, Bailey-Reed Group reported the following amounts (in millions) in its financial statements: 2019 2018 Total Assets $ 73,000 $ 71,000 Total Liabilities 51,100 46,860 Interest Expense 765 800 Income Tax Expense 165 270 Net Income 830 6,725 Required: 1. Compute the debt-to-assets ratio and times interest earned ratio for 2019 and 2018. 2-a. In 2019, were creditors providing a greater (or lesser) proportion of financing for Bailey-Reeds assets? 2-b. In 2019, was Bailey-Reed more (or less) successful at covering its interest costs, as compared to 2018
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