P 7-10 Consecutive five-year balance sheets and income statements of Laura Gibson Corpo- ration are shown below and on the following page. Compute the following for the ended December 31, 2007-2011. 1. Times interest eamed 2. Fixed charge coverage 3. Debt ratio 4. Debt equity ratio 5. Debt to tangible net worth b. Comment on the debt position and the trends indicated in the long debt-paying ability. term LAURAGIBSON CORPORATION Balance Sheets December 3I, 2007 through December JI, 201 I 2008 2007 (Dollars in thousands) 2011 2010 Current assets: 27,000 26,000 25,800 25,500 25,000 Cash Accounts receivable, net 135.000 132,000 130,000 129.000 128.000 128,000 130,000 124,000 132,D00 126,000 Total current assets 289.800 279,000 290,000 288.000 Property, plant, and equipment, net 250.000 248,000 247.000 246.000 243,000 Intangibles 20.000 18.000 17.000 16000 15,000 Total assets S560,000 S554,000 $553.800 S548500 $537.000