Consider the following information:

Gil's Fish and Tackle, Incorporated

Balance Sheet

At December $31,2021$

Assets

Cash $ $22,200$

Accounts Receivable $($less allowance$)169,100$

Inventories $68,300$

Property, Plant and Equipment $102,800$

Long$-$term Investments $30,000$

Total Assets $ $392,400$

Liabilities

Accounts Payable $ $49,200$

Current Portion of Long$-$Term Debt $68,800$

Long$-$Term Notes Payable $100,000$

Total Liabilities $218,000$

Stockholders' Equity

Contributed Capital $100,000$

Retained Earnings $74,400$

Total Stockholders$$ Equity $174,400$

Total Liabilities and Stockholders$$ Equity $ $392,400$

Gil's Fish and Tackle, Incorporated

Income Statement

For the year ending December $31,2021$

Sales Revenue $ $2,765,000$

Operating Expenses

Salaries and Wages Expense $1,850,500$

Operating and Administrative Expenses $286,700$

Depreciation Expense $335,400$

Operating Expenses $2,472,600$

Operating Income $292,400$

Other Expenses

Interest Expense $17,000$

Income Before Income Tax Expense $275,400$

Income Tax Expense $103,800$

Net Income $ $171,600$

Required:

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