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Please help! Tried 54.94 and 55.00 and 55.95 for the Debt - to - Asset Ratio. It wants two decimal points. The Times Interest Earned
Please help! Tried 54.94 and 55.00 and 55.95 for the Debt - to - Asset Ratio. It wants two decimal points.
The Times Interest Earned is correct.
The balance sheet for Shaver Corporation reported the following: cash, $11,500; short-term investments, $16,500; net accounts receivable, $48,000; inventories, $53,000; prepaids, $16,500; equipment, $102,000; current liabilities, $53,000; notes payable (long-term), $83,000; total stockholders' equity, $111,500; net income, $4,620; interest expense, $7,000; income before income taxes, $9,180. 1. Compute Shaver's debt-to-assets ratio and times interest earned ratio. (Round your answers to 2 decimal places.) Ratio Debt-to-Assets Times Interest Earned 2.31Step by Step Solution
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