Balance Sheet as of December 31, 2013 and 2014 ASSETS 2014 2013 LIABILITIES 2014 2013 Current assets Current liabilities Cash 190,047 $ 187,462 Accounts payable $ 1,545,381 $ 1,455,373 Investments $ 181,719 $ 121,377 Short-term debt $ 311,348 $ 333,339 Accounts receivable $ 668,041 $ 631,995 Total current liabilities $ 1,856,729 S 1,788,712 Inventory $ 588,193 $ 564,775 Long-term liabilities Total current assets $ 1,628,000 $ 1,505,609 Debt $ 7,286,737 $ 6,603,491 Long-term assets Other liabilities $ 1,462,442 $ 1,345,529 Investments $ 3,054,619 $ 2,827,400 Total liabilities $ 10,605,908 S 9,737,732 Plant, property, and equipment $ 8,497,669 $ 8,481,620 OWNERS' EQUITY Goodwill $ 348,050 $ 347,055 Common stock $ 1,458,491 S 1,454,272 Intangible assets $ 1,158,120 $ 957,812 Retained earnings $ 2,622,059 $ 2,927,492 Total owners' equity TOTAL LIABILITIES $ 4,080,550 $ 4,381,764 TOTAL ASSETS $ 14,686,458 $ 14,119,496 AND OWNERS' EQUITY $ 14,686,458 $ 14,119,496 Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 Revenue $ 14,146,019 $ 13,567,771 Cost of goods sold $ -8,447,008 $ -8,131,163 Selling, general, and administrative expenses $ -998,132 $ -981,733 Depreciation $ -1,497,126 $ -1,472,371 EBIT $ 3,203,753 $ 2,982,504 Interest expense $ -375,971 $ -354,332 Taxes $ -1,074,557 $ -998,705) Net income $ 1,753,225 $ 1,629,467 Right-click on the table and select Copy to Clipboard and then right-click the highlighted texts in the popup dialogue box and select Copy in order to paste its contents into a spreadsheet. Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 22 Print Done MacBook Bir TO Financial ratios: Financial leverage. The financial statements for Tyler Toys, Inc. are shown in the popup window: Calculate the debt ratio, times interest earned ratio, and cash coverage ratio for 2013 and 2014 for Tyler Toys. Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the shareholders? What is the debt ratio for 2014? (Round to four decimal places.)