Review the financial statements of STU Ltd:

Income Statement ($ millions)

• Revenue: $3,800
• Cost of Goods Sold: $2,200
• Gross Profit: $1,600
• Operating Expenses: $1,200
• Operating Income: $400
• Interest Expense: $80
• Tax Expense: $50
• Net Income: $270

Balance Sheet ($ millions)

• Current Assets:
  • Cash: $40
  • Accounts Receivable: $250
  • Inventory: $350
  • Total Current Assets: $640
• Non-current Assets:
  • Property, Plant & Equipment: $900
  • Other Long-term Assets: $460
  • Total Non-current Assets: $1,360
  • Total Assets: $2,000
• Current Liabilities:
  • Trade Creditors: $220
  • Short-term Bank Loans: $100
  • Total Current Liabilities: $320
• Long-term Liabilities:
  • Long-term Debt: $700
  • Total Liabilities: $1,020
• Equity:
  • Common Shares: $150
  • Retained Earnings: $830
  • Total Equity: $980
  • Total Liabilities & Equity: $2,000

Requirements:

a) Suggest ways for STU Ltd to secure $65 million for an expansion project without using its cash reserves. b) Calculate the current ratio. c) Determine the debt-to-equity ratio. d) Evaluate the times interest earned (TIE) ratio.