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: Accounts payable Current Year $216,000 Current maturities of serial bonds payable Serial bonds payable, 10% Common stock, $1 par value Paid-in capital in excess of par Retained earnings Prior Year $180,000 280,000 280,000 1,340,000 1,620,000 60,000 70,000 670,000 680,000 2,330,000 1,850,000 The income before income tax expense was $405,000 and $354,400 for the current and prior years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year Prior year 0.6 V 0.8 V b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Prior year 12.8 X 11.1 x