Crane Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow. Crane Medical Comparative Balance Sheet As of December 31 2016 2015 Assets Current assets Cash $436,000 $417,400 Accounts receivable, net 1,063,000 776,500 Inventory Other current assets Total current assets 798,000 681,050 306,000 247,100 2,603,000 2,122,050 8,746,285 8,439,815 $11,349,285 $10,561,865 Property, plant, & equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities $3,115,000 3,799,000 $2,846,050 3,892,700 Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 6,914,000 6,738,750 51.000 58,900 197.000 103,800 4,187.285 3,660,415 4,435,285 3,823,115 $11,349,285 $10,561,865 Crane Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2016 2015 Sales revenue (all on account) $10,177,200 $9,614,000 Cost of goods sold 5,613,400 5,298,750 Gross profit 4,563,800 4,315,250 Operating expenses 2,840,200 2,634,100 Net operating income 1,723,600 1,681,150 Interest expense 309,500 308,700 Net income before taxes 1,414,100 1,372,450 Income taxes (30%) 424,230 411.735 Net income $989,870 $960,715 Dividends paid Preferred dividends 29,550 29,500 Common dividends 433,450 413,100 Total dividends paid 463,000 442,600 Net income retained 526,870 518,115 Retained earnings, beginning of year 3,660,415 3,142,300 Retained earnings, end of year $4,187.285 $3,660,415 Calculate the following leverage ratios for 2016. (Round all answers to 2 decimal places, e.g. 2.55% or 2.55.) a Debt ratio b. Debt-to-equity ratio c Times interest earned ratio times