Recent financial statements for Marina Company are given below: Marina Company Statement of Financial Position June 30, 2018 Assets Currents assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property, plant and equipment, net Total assets 21,000 160,000 300,000 9,000 490,000 810,000 1.300,000 200.000 300,000 500,000 Liabilities and Equity Liabilities: Current liabilities Bonds Payable, 10% Total liabilities Equity: Ordinary shares, P5 par value Retained earnings Total equity Total liabilities and equity 100.000 700,000 800,000 1,300,000 Marina Company Income Statement For the Year Ended June 30, 2018 Sales 2100,000 Less cost of goods sold 1.260,000 Gross margin 840,000 Less operating expenses 660,000 Net operating income 180,000 Less interest expenses 30.000 Net income before taxes 150,000 Less income taxes 45,000 Nel income 105.000 Account balances at the beginning of the company's fiscal year were: accounts receivables, P140,000; and inventory, P260,000. All sales were on account. Required: Compute the following financial ratios e) Debt to equity ratio Times interest eamed a) Book Value per share 21 / 40