Determine the TIE ratio.

a)

2.045

b)

2.111

c)

2.259

d)

3.125

60.00 Shares outstanding (millions) $42.8 Common dividends (millions Interest rate on NP and long term bonds 6.096 40% Federal plus state income tax rate Year-end stock price $30.60 BALANCE SHEET (millions of dollars) 140.0 Accounts payable ash 880.0 Notes payable 600.0 Accts, receivable inventories 1,320.0 Accruals 400.0 1,800.0 Total current assets 2,340.0 Total current liabilities Long-term bonds 1,000.0 2,800.0 Total debt Common stock 200.0 Retained earnings 1,000.0 Net plant & equip. 1,660.0 Total common equity 1,200.0 4,000.0 Total liabilities & equity Total assets 4,000.0 INCOME STATEMENT (millions of dollars) Net sales S60000 Operating costs 5,599.8 Depreciation 1002 BIT 300.0 96.0 Less: Interest 204.0 81.6 Less: Taxes 122.4 Net income