Question
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 $ 224,131 Cost of goods sold 77,360 Gross profit 146,771 Selling, general & administrative expenses 14,635 Operating income 132,136 Interest expense 4,797 Income before taxes 127,339 Income tax expense 4,714 Net income $ 122,625 Balance sheet information: Current assets $ 256,500 Noncurrent assets 513,000 Current liabilities 63,000 Long-term debt 126,000 Using the above information: a. Perform vertical analysis of the income statement. (Round your answer to the nearest whole percent.) b. Calculate the debt-to-assets ratio. (Round your answer to 2 decimal places.) c. Calculate the times interest earned ratio. (Round your answer to 2 decimal places.)
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