Ratio of Liabilities to Stockholders' Equityand Number ofTimes Interest Earned

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

Ratio of Liabilities to Stockholders' Equity and Number of Times Interest Earned The following data were taken from the nancial statements of Hunter Inc. for December 31 of two recent years: Current Year Previous Year Accounts payable $640,000 $320,000 Current maturities of serial bonds payable 560,000 560,000 Serial bonds payable, 10% 2,560,000 3,120,000 Common stock, $1 par value 100,000 120,000 Paid-in capital in excess of par 1,030,000 1,040,000 Retained earnings 3,570,000 2,840,000 The income before income tax was $1,060,800 and $928,200 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 DU Previous year b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year DD Previous year