Ratio of Liabilities to Stockholders' Equity and Times Interest Earned

The following data were taken from the financial statements of Hunter Inc. for December $31$ of two recent years:

The income before income tax expense was $$562,400$ and $$492,100$ 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

previous year. These results are the combined result of a

income before income taxes and

interest expense in the current year