Consider the following information:

Gil's Fish and Tackle, Incorporated

Balance Sheet

At December $31,2021$

Assets

Cash $ $27,650$

Accounts Receivable $($less allowance$)202,850$

Inventories $147,300$

Property, Plant and Equipment $262,800$

Long$-$term Investments $190,000$

Total Assets $ $830,600$

Liabilities

Accounts Payable $ $57,200$

Current Portion of Long$-$Term Debt $80,000$

Long$-$Term Notes Payable $135,000$

Total Liabilities $272,200$

Stockholders' Equity

Contributed Capital $420,000$

Retained Earnings $138,400$

Total Stockholders$$ Equity $558,400$

Total Liabilities and Stockholders$$ Equity $ $830,600$

Gil's Fish and Tackle, Incorporated

Income Statement

For the year ending December $31,2021$

Sales Revenue $ $3,245,000$

Operating Expenses

Salaries and Wages Expense $1,994,500$

Operating and Administration Expenses $334,700$

Depreciation Expense $388,200$

Operating Expenses $2,717,400$

Operating Income $527,600$

Other Expenses

Interest Expense $20,250$

Income Before Income Tax Expense $507,350$

Income Tax Expense $187,720$

Net Income $ $319,630$

Required:

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