In the attached files are the questions to be answered and the information needed to answer them. Answer all parts of the question completely.

Questions: 4-24, 4-26

4-24:

a) Compute times interest earned ratio for each year and discuss any trends for each.

b) Compute the current ratio for each year and discuss any trend in liquidity. Do you believe the company is sufficiently liquid? Explain. What additional information about the accounting numbers compromising this ratio might be useful in helping you assess liquidity?

c) Compute the total liabilities-to-equity ratio for each year and discuss trends for each.

d) What is your overall assessment of the companys credit risk from the analyses in a, b, and c? Explain.

4-26:

a) Compute the return on equity (ROE), the times interest earned ratio and the total-liabilities-to-equity ratio for 2010 for the companys two business segments and the company as a whole. (Use year-end equity for return on equity calculation).

b) What is your overall assessment of the companys credit risk? Explain. What differences do you observe between the two business segments? Do these differences correspond to your prior expectations given each companys business model?

c) Discuss the implications of the analysis of consolidated financial statements and the additional insight that can be gained from a more in-depth analysis of primary business segments.