eBook Calculator Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Previous Year Year Accounts payable $272,000 $234,000 Current maturities of serial bonds payable 350,000 350,000 Serial bonds payable, 10% 1,730,000 2,080,000 Common stock, $1 par value 80,000 100,000 Paid-in capital in excess of par 860,000 870,000 Retained earnings 2,980,000 2,360,000 The income before income tax expense was $561,600 and $491,400 for the current and previous years, respectively, a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year Previous year b. Determine the times interest earned ratio for both years. Round to one decimal place. Current yea Previous year c. The ratio of liabilities to stockholders' equity has improved and the number of times bond interest charges were earned h income taxes and lower Interest expense in the current year compared to the previous year