Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NUW2 Unin X com/ilm/takeAssignment/takeAssignmentMain.dotinvoker=assignments&takeAssignmentSessionLocator assignment-tak Exercise 9-89 Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and statement of cash

image text in transcribed
NUW2 Unin X com/ilm/takeAssignment/takeAssignmentMain.dotinvoker=assignments&takeAssignmentSessionLocator assignment-tak Exercise 9-89 Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and statement of cash flows: Long-term debt $4,400 Interest expense $399 Total liabilities 8,972 Net income 559 Total assets 432 Total equity Operating income 38,775 29,803 1,223 Interest payments Cash flows from operations Income tax expenses Income taxes paid 1,015 266 150 Required: Calculate the following ratios for Rising Stars. Round your answers to three decimal places. a. Debt to equity b. Debt to total assets C. Long-term debt to equity d Times Interest eamed (accrual basis) Check My Work All work saved

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

a. When did your ancestors come to the United States?

Answered: 1 week ago

Question

d. What language(s) did they speak?

Answered: 1 week ago

Question

e. What difficulties did they encounter?

Answered: 1 week ago