P14-10 (similar to) s Question Help Calculate the debt ratio, times interest earned ratio, and cash coverage ratio for 2013 and 2014 for Tyler Toys. Should any of these ratios Financial ratios: Financial leverage. The financial statements for Tyler Toys, Inc. are shown in the popup window or the change in a ratio warrant concern for the managers of Tyler Toys or the shareholders? What is the debt ratio for 2014? (Round to four decimal places.) Enter your answer in the answer box and then click Check Answer. ? 6 parts remaining Clear All Check Answer Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 $ 14, 146,214 $ 13,567,266 -8,132,197 $ -8,448,908$ Revenue Cost of goods sold Selling, general, and administrative expenses Depreciation $ -980,211 $ |EBIT $ -997,467 $ -1,497,824 $ 3,202,015 $ -376,667 $ -1,073,632 $ -1,472,775 2,982,083 -355,434 -998,127 Interest expense $ Taxes $ $ Net income 1,751,716 $ 1,628,5221 Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 ASSETS 2014 2013 LIABILITIES 2014 2013 Current assets Current liabilities Cash $ 190,066 $ $ 186,925 Accounts payable 120,294 Short-term debt 1,546,274 $ 312,456$ 1,456,965 333,135 Investments $ 181,652 $ $ Accounts receivable $ 668,515 $ 631,100 Total current liabilities $ 1,858,730$ 1,790,100 Inventory $ 588,957 $ 564,711 Long-term liabilities Total current assets $ 1,629,190 S 1,503,030 Debt $ 7,286,246 $ 6,603,320 Long-term assets Other liabilities $ 1,462,204 $ 1,346,258 Investments $ 3,054,240 $ 2,828,306 Total liabilities $ 10,607,180S 9,739,678 Plant, property, and equipment $ 8,496,954 $ 8,481,459 OWNERS' EQUITY Goodwill $ 348,815 $ 347,667 Common stock $ 1,458,397 $ 2,621,230$ Intangible assets $ 1,157,608 $ $ 956,707 Retained earnings Total owners' equity 1,454,380 2,923,111 4,377,491 $ 4,079,627 $ TOTAL LIABILITIES TOTAL ASSETS $ 14,686,807 $ 14,117,169 AND OWNERS' EQUITY $ 14,686,807 $ 14,117,169