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E13-5 (Algo) Computing a commonly used Solvency Ratio (LO 13-4, LO 13-5) According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2018. Let's see whether these changes are reflected in the income statement of Challenger.com for the year ended December 31, 2018 Sales Revenue Cost of Goods Sold Cross Profit Selling, General, and Administrative Expenses Interest Expense Income before Income Tax Expenso Income Tax Expense Net Income 2018 $ 103,000 61,500 41,500 36,300 530 4,670 1.000 $ 3,670 2017 $ 124,500 72,700 51,800 37,600 490 13, 710 5,300 $ 8,410 Required: 1. Compute the times interest earned ratios for 2018 and 2017 2. Does Challenger generate sufficient net income in both years before taxes and interest) to cover the cost of debt financing? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the times interest earned ratios for 2018 and 2017. (Round your answers to 1 decimal place) Times Interest Eamed Year Tell 3.8 percent between January and December 2018. Let's see whether these changes are reflected in the income statement of Challenger.com for the year ended December 31, 2018 Sales Revenue Cost of Goods Sold Gros Profit Selling, General, and Administrative Expenses Interest Expense Income before Income Tax Expense Income Tax Expense Net Income 2018 $ 103,000 61,500 41,500 36,300 530 4,670 1,000 $ 3,670 2017 $ 124,500 72, 700 51,800 37,600 490 13, 710 5,300 $ 8, 410 Required: 1. Compute the times interest earned ratios for 2018 and 2017 2. Does Challenger generate sufficient net income in both years before taxes and interest) to cover the cost of debt financing? Complete this question by entering your answers in the tabs below. Required 1 Requiry2 Required a Compute the times interest earned ratios for 2018 and 2017. (Round your answers to I decimal place.) Year Times interest Earned 2017 2018 Required 2 E13-3 (Algo) Preparing and Interpreting a Schedule for Horizontal and Vertical Analyses (LO 13-2, LO 13- 3, LO 13-5) According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2018 Required: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Computer Tycoon Incorporated for the year ended December 31, 2018. 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. 2-b. Excluding income tax interest, and operating expenses, did Computer Tycoon earn more gross profit per dollar of sales in 2018 compared to 2017? Complete this question by entering your answers in the tabs below. Reg! Reg 2 Reg 20 Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Computer Tycoon Incorporated for the year ended December 31, 2018. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) COMPUTER TYCOON, INCORPORATED Income Statements For the Year Ended December 31 2018 2017 Change in Dollars Parcentage Sales Revenge $ 102,000 $ 123.000 % Complete this question by entering your answers in the tabs below. Reg 1 Req ZA Req 2B . Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Computer Tycoon Incorporated for the year ended December 31, 2018. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) COMPUTER TYCOON, INCORPORATED Income Statements For the Year Ended December 31 Change in 2018 2017 Dollars Percentago Sales Revenue $ 102,000 $ 123,000 % Cost of Goods Sold 61,000 72,300 % Gross Profit 41.000 50,700 % Selling, General, and Administrative Expenses 36,200 37400 % Interest Expense 520 485 % Income before Income Tax Expense 4,280 12,815 % Income Tax Expense 1,000 5.200 % Net Income $ 3.280 $ 7,615 % Reg Reg 2A >