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 Current Year Previous Year Accounts payable $756,000 $198,000 Current maturities of serial bonds payable 470,000 470,000 Serial bonds payable, 10% 1,910,000 2,380,000 Common stock, $1 par value 90,000 110,000 Paid-in capital in excess of par 990,000 990,000 Retained earnings 3,400,000 2,710,000 The income before income tax expense was $999,600 and $874,700 for the current and previous years, respectively. a. Determine the ratio of labilities 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. Rund to one decimal place Current year Previous year The ratio of liabilities to stockholders' equity has results are the combined result of a income before incume taxes and and the number of times bond interest charges were eamed has from the previous year. These interest expense in the current year compared to the previous year