E10-10 Calculating and Interpreting the Debt-to-Assets Ratio and Times Interest Earned Ratio LO 10-5 FedEx Corporation At May 31, 2019, FedEx Corporation reported the following amounts (in millions) in its financial statements: Total Assets Total Liabilities Interest Expense Income Tax Expense Net Income 2019 2018 $54,400 $52,330 36,600 32,900 590 560 115 220 540 4,570 Required: Page 491 1. Compute the debt-to-assets ratio and times interest earned ratio (to two decimal places) for 2019 and 2018. 2. Use your answers to requirement 1 to determine whether, in 2019, (a) creditors were providing a greater (or lesser) proportion of financing for FedEx's assets and (b) FedEx was more (or less) successful at covering its interest costs, as compared to 2018