Question
Shown below is condensed financial information for Laramie Industries. December 31, 2022 December 31, 2021 Total assets $ 408,000 $ 391,000 Total liabilities 239,088 217,005
Shown below is condensed financial information for Laramie Industries. December 31, 2022 December 31, 2021 Total assets $ 408,000 $ 391,000 Total liabilities 239,088 217,005 Interest expense 27,900 18,000 Income tax expense 99,000 94,000 Net income 308,870 292,000
(a) Calculate the debt to total assets ratio for 2021 and 2022. (Round answers to 1 decimal place, e.g. 5.2.) 2021 2022 Debt to total assets
(b) Calculate the times interest earned ratio for 2021 and 2022. (Round answers to 1 decimal place, e.g. 5.2.) 2021 2022 Times interest earned times times
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