Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help Riyers Inc. has the following selected information for its years ended June 30 Gross sales Gross profit Interest expense Income taxes (at 28%)

please help image text in transcribed
Riyers Inc. has the following selected information for its years ended June 30 Gross sales Gross profit Interest expense Income taxes (at 28%) Net earnings 2033 ex2 20X1 5580,600 $677,900 $598,000 5361,900 $425,550 $395,300 $ 79,000 $191,000 $78,700 $ 67,100 $ 56,300 $ 47,500 $219,200 $ 163,000 $138,500 Total assets Long-term debt Shareholders equity 20x3 20X2 2001 $1,788,600 $1,617,000 $1,510,900 $ 874,400 S 982,400 $1,090,300 $ 688,100 $364,900 $ 214,000 Required: a Calculate the times-interest-earned and the long-term debt-to-total capitalization ratios for 20x120x2 and 20X3. (Use 365 days in a year. Do not round your intermediate calculations and round your final answers for the "Times interest earned" to 1 decimal place and "Long-term debt to total capitalization" 2 decimal places) Long term debt-to-total capitalization 20x3 20X2 20X1 Times interest earned times times times

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

Teaching Calculation Audit And Test

Authors: Richard English

1st Edition

144627277X, 978-1446272770

More Books

Students also viewed these Accounting questions