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Surf's Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in millions): Surf's Up Selected Balance Sheet Data
Surf's Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in millions): Surf's Up Selected Balance Sheet Data Total assets Interest-bearing debt Other liabilities Total liabilities Total equity Selected Income Statement Data 2024 Sales revenue $ 795 Interest expense 15 Tax expense 44 66 2024 2023 $ 727 $ 718 505 425 123 105 628 530 99 188 Net income Based on these amounts, calculate the following ratios for 2024: 1. Debt to equity ratio. 2. Times interest earned ratio. Note: Enter your answers in millions. (i.e. 5,000,000 should be entered as 5). > Answer is not complete. Debt to Equity Ratio Numerator + Denominator Interest-bearing Debt Total Stockholders' Equity Amounts $ 628 X 6.3 $ 99 Selected Income Statement Data Sales revenue Interest expense Tax expense Net income 2024 $ 795 15 44 66 Based on these amounts, calculate the following ratios for 2024: 1. Debt to equity ratio. 2. Times interest earned ratio. Note: Enter your answers in millions. (i.e. 5,000,000 should be entered as 5). Answer is not complete. Debt to Equity Ratio Numerator + Denominator Amounts Interest-bearing Debt $ 628 6.3 Total Stockholders' Equity $ 99 Times Interest Earned Ratio Numerator + Denominator Amounts = 0
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