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At May 31, 2019, Tagalong Transport Services reported the following amounts (in millions) in its financial statements: 2019 2018 Total Assets $ 64,000 $ 62,000
At May 31, 2019, Tagalong Transport Services reported the following amounts (in millions) in its financial statements:
2019 | 2018 | |
---|---|---|
Total Assets | $ 64,000 | $ 62,000 |
Total Liabilities | 38,400 | 34,720 |
Interest Expense | 686 | 660 |
Income Tax Expense | 140 | 245 |
Net Income | 690 | 5,466 |
Required:
1. Compute the debt-to-assets ratio and times interest earned ratio for 2019 and 2018.
Compute the debt-to-assets ratio and times interest earned ratio for 2019 and 2018. (Round your answers to 2 decimal places.)
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