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Husain, Inc.'s income statement and other financial information for the current year is presented below. Hussain, Inc. Income Statement For the year ended December 31
Husain, Inc.'s income statement and other financial information for the current year is presented below. Hussain, Inc. Income Statement For the year ended December 31 Sales revenue $264,131 Cost of goods sold 85,360 Gross profit Selling, general & administrative expenses 178,771 16,635 Operating income Interest expense 162,136 5,997 Income before taxes Income tax expense 156,139 5,514 Net income $150,625 Balance sheet information: Current assets Noncurrent assets Current liabilities Long-term debt $260,500 521,000 71,000 142,000 a. Perform vertical analysis of the income statement. (Round your answer to the nearest whole percent.) HUSSAIN, INC. Income Statement For the year ended December 31 Amount Percent (%) Sales revenue $ 264,131 Cost of goods sold 85,360 Gross profit 178,771 Selling, general, and administrative expenses 16,635 Operating income 162,136 Interest expense 5,997 Income before taxes 156,139 Income tax expense 5,514 Net income $ 150,625 b. Calculate the debt-to-assets ratio. (Round your answer to 2 decimal places.) Debt to Assets Ratio c. Calculate the times interest earned ratio. (Round your answer to 2 decimal places.) Times Interest Earned Ratio
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