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 $405,000 $154,000 290,000 290,000 Accounts payable Current maturities of serial bonds payable Serial bonds payable, 10% Common stock, $1 par value 1,270,000 1,560,000 80,000 100,000 Paid-in capital in excess of par 860,000 870,000 Retained earnings 2,990,000 2,370,000 The income before income tax was $499,200 and $436,800 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 improved result of a income before income taxes and and the times interest earned ratio has from the previous year. These results are the combined interest expense in the current year compared to the previous year