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please help me figure this out. I greatly appreciate it The following information was available for the year ended December 31, 2019: Earnings before interest
please help me figure this out.
I greatly appreciate it
The following information was available for the year ended December 31, 2019: Earnings before interest and taxes (operating income) Interest expense Income tax expense Net income Total assets at year-end Total liabilities at year-end $ 84,000 18,000 23,000 43,000 280,000 152,000 Required: a. Calculate the debt ratio at December 31, 2019. (Round your answer to 1 decimal place.) b. Calculate the debt/equity ratio at December 31, 2019. (Round your answer to 2 decimal places.) c. Calculate the times interest earned for the year ended December 31, 2019. (Round your answer to 2 decimal places.) Debt ratio % b. Debt/Equity ratio 1.19 times C. Times interest earned 4.67 times hpStep by Step Solution
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