Steven Plumbing Products Lid. reported the following data in 2020 (in millions): Click the icon to view the financial statements.) Compute Steven's leverage ratio debt ratio, and times interest earned ratio, and write a sentence to explain what those ratio values mean. Would you be willing to lend Steven $1 million? State your reason. First, compute Steven's leverage ratio. Determine the formula for the leverage ratio. Then, complete the formula and calculate the leverage ratio. (Enter all amounts in millions. Round your answer X.XX.) two decimal places, Leverage ratio bi ratio. Then, complete the formula and calculate the debt ratio (Enter all amounts in millions. Round your answer two decimal places, X.XX.) Interest expenso This me Net income Now, da Net operating revenues Operating expenses Operating income Other Shareholders' equity Debt ratio This me Total assets Determi Total liabilities terest-eared ratio. Then, complete the formula and calculate the debt ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) Time Interest earned ratio This means that Would you be willing to lend Steven S1 million? State your reason. Steven'o dahtratin e vand the many lite avietinn interact avhenea l he willing to lend Steven C1 million First, compute Steven's leverage ratio. Determine the formula for the leverage ratio. Then, complete the formula and calculate the leverage ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) Leverage ratio This means that Steven has $ of Now, determine the formula for the d debt ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) assets for every dollar of shareholders' equity. shareholders' equity for every dollar of assets. shares of equity for every dollar in assets This means that Steven has $ in Determine the formula for the times-interest-earned ratio. Then, complete the formula and calculate the debt ratio. 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Then, complete the formula and calculate the leverage ratio. (Enter all amounts in millions. Round your answer X.XX.) two decimal places, Leverage ratio bi ratio. Then, complete the formula and calculate the debt ratio (Enter all amounts in millions. Round your answer two decimal places, X.XX.) Interest expenso This me Net income Now, da Net operating revenues Operating expenses Operating income Other Shareholders' equity Debt ratio This me Total assets Determi Total liabilities terest-eared ratio. Then, complete the formula and calculate the debt ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) Time Interest earned ratio This means that Would you be willing to lend Steven S1 million? State your reason. Steven'o dahtratin e vand the many lite avietinn interact avhenea l he willing to lend Steven C1 million First, compute Steven's leverage ratio. Determine the formula for the leverage ratio. Then, complete the formula and calculate the leverage ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) Leverage ratio This means that Steven has $ of Now, determine the formula for the d debt ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) assets for every dollar of shareholders' equity. shareholders' equity for every dollar of assets. shares of equity for every dollar in assets This means that Steven has $ in Determine the formula for the times-interest-earned ratio. Then, complete the formula and calculate the debt ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) Time-interest-earned ratio This means that $ Would you be willing to lend Steven $1 million? State your reason. Steven's debt ratio is and the company its existing interest expense. be willing to lend Steven $1 million. This means that Would you be wil for every dollar of operating income, Steven has Steven's debt rat interest expense. be willing to lend Steven $1 million. for every dollar of interest expense, Steven has earned Steven has Choose from any e to the next