Comparative financial statements for Welter Corporation, a merchandising company, for the year ending December 31 appear below The company did not issue any new common stock during the year. A total of 600,000 shares of common stock were outstanding The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $075 year and $0.40 this year. The market value of the company's common stock at the end of the year was $27. All of the company's a are on account Heller Corporation Comparative de lance Sheet (dollars. In thousands) This Year Last Year Assets Current assets Cash Accounts receivable et Inventory Dread capenses Total current assets Property and equipment land Buildings and equipment, Total prooerty and expert 51,110 9,900 slo $ 1,70 6.900 10.600 550 13,900 10,500 39,156 10,500 20.226 49.270 568,690 575, 176 SL1,500 1.030 $17,00 750 Libilities and Stockholders' fouity Current liabiti Accounts le cred lisoitti e sale, short to Total current is Long Lisbilities: Bones Total bilities Stockholders tyt CS 13.50 2.000 2,000 pe here to search O 28,280 27,540 Total liabilities Stockholders' equity: Common stock Additional paid in capital Total paid in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2,000 4,000 6,000 41,596 47 596 $75,876 2,000 4,000 6,000 35,158 41, 158 568,698 Heller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $72,000 564,000 Cost of goods sold 42,000 39,000 Gross margin 30,000 25,000 Selling and administrative expenses Selling expenses 10,890 10,500 Administrative expenses 2,200 6,100 Total selling and soministrative expenses 18,000 16,600 Het operating Income 12,000 0,400 Triterest expense 878 370 Net Income before taxes 11,130 7,530 Income taxes 3,012 Net Income 6,678 4,518 Dividends to common stockholders 200 300 tiet income added to retained carings 15,931 4,218 Beginning retained tarnings 35,158 30.040 Ending retained earnings $41,550 535.158 Required: - Prey 307 Next > here to search O Required: Compute the following financial ratios for this year 1. Times interest eamed ratio. 2. Debt-to-equity ratio. 3. Equity multiplier (For all requirements, round your answers to 2 decimal places.) 1 2 Times interest earned ratio Debt-to-equity ratio Equity multiplier 3 to search