Gil's Fish and Tackle, Inc. Balance Sheet At December 31, 2018 Assets Cash Accounts Receivable (less allowance) Inventories Property, plant and Equipment Long-term Investments Total Assets Liabilities Accounts Payable Current Portion of Long-Term Debt Long-Term Notes Payable Total Liabilities Stockholders' Equity Contributed Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 29, 300 214,950 162,350 302,800 230,000 $939, 400 $ 59,200 82,800 143,000 285,000 500,000 154,400 654,400 $939,400 Gil's Fish and Tackle, Inc. Income Statement For the year ending December 31, 2018 Sales Revenue $3,365,000 Operating Expenses Salaries and Wages Expense 2,030,500 Operating and Admin. Expenses Depreciation Expense 401,400 Operating Expenses 2,778,600 Operating Income 586, 400 Other Expenses Interest Expense 21,450 Income Before Income Tax Expen 564,950 Income Tax Expense 209,032 Net. Tncome $ 355,918 346,700 Saved Total Stockholders' Equity Total Liabilities and Stockholders' Equity 654,400 $939,400 Gil's Fish and Tackle, Inc. Income Statement For the year ending December 31, 2018 Sales Revenue $3,365,000 Operating Expenses Salaries and Wages Expense 2,030,500 Operating and Admin. Expenses 346, 700 Depreciation Expense 401,400 Operating Expenses 2,778,600 Operating Income 586,400 Other Expenses Interest Expense 21,450 Income Before Income Tax Expense 564,950 Income Tax Expense 209,032 Net Income $ 355,918 Required: Calculate the debt-to-assets ratio and the times interest earned. (Round your answers to 2 decimal Debt-to-Assets Ratio Times Interest Eamed Brandies, Inc. reported net income of $9.3375 million. At the beginning of the year, 4.05 million shares of common stock were outstanding and at the end of the year, 4.25 million shares were outstanding. No dividends were declared. The EPS is approximately Multiple Choice $2.25. $2.31 Oo oo $112 $2.20