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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 Cost of goods sold Gross profit Selling, general and administrative expenses Operating income Interest expense Income before taxes Income tax expense Net income $194,131 71,360 122,771 13,135 109,636 3,897 105,739 4,114 $191,625 Balance sheet information: Current assets Noncurrent assets Current liabilities Long-term debt $253,500 507,000 57,000 114,000 Required: a. Perform vertical analysis of the income statement. b. Calculate the debt-to-assets ratio. Required A Required B Required c Perform vertical analysis of the income statement. (Round your answers to the Percent (%) HUSSAIN, INC. Income Statement For the year ended December 31 Amount Sales revenue $ 194,131 Cost of goods sold 71,360 Gross profit 122,771 Selling, general, and administrative expenses 13,135 Operating income 109,636 Interest expense 3,897 Income before taxes 105,739 Income tax expense 4,114 Net income $ 101,625 Required A Required B Required C Calculate the debt-to-assets ratio. (Round your answer to 2 decimal places.) Debt-to-assets Ratio Required A Required B Required Calculate the times interest earned ratio. (Round your answer to 2 decimal places.) Interest Earned Ratio
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