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Husain, Inc.s income statement and other financial information for the current year is presented below. Husain, Inc.'s income statement and other financial information for the
Husain, Inc.s income statement and other financial information for the current year is presented below.
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 $ 204,131 73,360 130,771 13, 635 117,136 4,197 112,939 4,314 $108,625 Balance sheet information: Current assets Noncurrent assets Current liabilities Long-term debt $254,500 509,000 59,000 118,000 Required: a. Perform vertical analysis of the income statement. b. Calculate the debt-to-assets ratio. c. Calculate the times interest earned ratio. Complete this question by entering your answers in the tabs below. Required A Required B Required C Perform vertical analysis of the income statement. (Round your answers to the nearest whole percent.) HUSSAIN, INC. Income Statement For the year ended December 31 Amount Percent (%) Sales revenue $ 204,131 Cost of goods sold 73,360 Gross profit 130,771 Selling, general, and administrative expenses 13,635 Operating income 117,136 Interest expense 4,197 Income before taxes 112,939 Income tax expense 4,314 Net income $ 108,625 Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the times interest earned ratio. (Round your answer to 2 decimal places.) Interest Earned RatioStep by Step Solution
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