Ratio of Liabilities to Stockholders' Equity and Number of Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Previous Year Accounts payable $130,000 $194,000 Current maturities of serial bonds payable 260,000 260,000 Serial bonds payable, 10% 1,330,000 1,590,000 Common stock, $1 par value 70,000 90,000 Paid-in capital in excess of par 760,000 760,000 Retained earnings 2,610,000 2,070,000 The income before income tax was $620,100 and $542,600 for the current and previous years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year Previous year b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Previous year c. The ratio of liabilities to stockholders' equity has and the number of times bond interest charges were earned has from the v income before income taxes and previous year. These results are the combined result of a interest expense in the current year compared to the previous year