Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rlyers Inc. has the following selected information for its years ended June 30: Gross sales Gross profit Interest expense Income taxes (at 28%) Net earnings

image text in transcribed
Rlyers Inc. has the following selected information for its years ended June 30: Gross sales Gross profit Interest expense Income taxes (at 28%) Net earnings 20x3 20X2 20X1 $573,100 $661,900 3592,600 $360,600 $424,150 $391,700 $ 71,600 $ 86,300 $ 84,300 $ 60,700 S 50,100 $ 40,600 $218,100 $161,700 $131,400 Total assets Long-term debt Shareholders' equity 20x3 20X2 20x) $1,784,900 $1,604,000 $1,503,500 $ 867,500 $907,500 51,187,100 $ 682,500 $ 359,700 5 207,200 Required: a. Calculate the times-interest-earned and the long-term debt-to-total capitalization ratios for 20X1. 20X2, and 20x3 (Use 365 days in a year. Do not round your intermediate calculations and round your final answers for the "Times interest earned" to 1 decimal place and "Long-term debt to total capitalization" 2 decimal places.) Long-term debt-to-total capitalization 20X3 20X2 Times interest carhed times Times 20X1 US

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Be Audit You Can Be

Authors: Awesome Auditor

1st Edition

1659095700, 978-1659095708

More Books

Students also viewed these Accounting questions