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Consider the following information: Gil's Fish and Tackle, Inc. Balance Sheet At December 31, 2016 Assets Cash $ 28,900 Accounts Receivable (less allowance) 211,900 Inventories

Consider the following information:

Gil's Fish and Tackle, Inc. Balance Sheet At December 31, 2016
Assets
Cash $ 28,900
Accounts Receivable (less allowance) 211,900
Inventories 158,600
Property, Plant and Equipment 292,800
Long-term Investments 220,000

Total Assets $ 912,200

Liabilities
Accounts Payable $ 58,700
Current Portion of Long-Term Debt 82,100
Long-Term Notes Payable 141,000

Total Liabilities 281,800

Stockholders' Equity
Contributed Capital 480,000
Retained Earnings 150,400

Total Stockholders Equity 630,400

Total Liabilities and Stockholders Equity $ 912,200

Gil's Fish and Tackle, Inc. Income Statement For the year ending December 31, 2016
Sales Revenue $ 3,335,000

Operating Expenses
Salaries and Wages Expense 2,021,500
Operating and Admin. Expenses 343,700
Depreciation Expense 398,100

Operating Expenses 2,763,300

Operating Income 571,700
Other Expenses
Interest Expense 21,150

Income Before Income Tax Expense 550,550
Income Tax Expense 203,704

Net Income $ 346,846

Required:

Calculate the debt-to-assets ratio and the times interest earned for the following company. (Round your answers to 2 decimal places.)

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