Ratio of Liabilities to Stockholders Equity and Times terest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Prior Year Accounts payable $500,000 $180,000 Current maturities of serial bonds payable 370,000 370,000 Serial bonds payable, 10% 1,600,000 1,970,000 Common stock, $1 par value 100,000 130,000 Paid-in capital in excess of par 1,090,000 1,090,000 Retained earnings 3,750,000 2,980,000 The income before income tax expense was $512,200 and $448,200 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 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Prior year C. The ratio of liabilities to stockholders' equity have previous year. These results are the combined result of a in the current year compared to the previous year. and the times interest earned ratio has income before income taxes and from the interest expense