th of Green Earth's long-term liabilities and state how the liability arose. m the list that best fits the descrintion provided - Requirements od 1. Describe each of Green Earth's long-term liabilities and state how the liability arose UI find 2. What were the company's total assets at December 31, 2021? Evaluate the company's leverage and debt ratios at the end of 2020 and 2021. Use year-end figures in place of averages where needed for calculating the ratios in this exercise. Did the company improve, deteriorate, or remain about the same over the year? the ave e [re tal er Print Done prad he bs. Round your answers to two decimal places.) enc Debt ratio - build $65 Data table the 2021 2020 each fron $ 134 $ 196 156 180 ny 32 13 19 15 tio AP bod me At year-end (In millions) Liabilities and stockholders' equity Current liabilities Accounts payable Accrued expenses Employee compensation and benefits Current portion of long-term debt Total current liabilities Long-term bonds payable Deferred income taxes payable Leases payable Common stockholders' equity Total liabilities and stockholders' equity Year-end (in millions) Cost of goods sold 335 410 1.491 uipl 1,326 163 and find 131 ere the of ave 13 1,615 21 1,492 en ren $ 3,585 S 3,412 's total Jember $ 1,815 $ 1,485 sleverag he sa ratios ons. Rou end Print Done Green Earth Homes, ing builds environmentally sensitive structures. The company's 2021 revenues totaled $2,750 million Al December 31, 2021 and 2020, the company had rospectively, $851 million and $581 milion in current assets. The company's balance shoots and income statomonts reported the following amounts: Click the icon to view the amounts) Read the requruments Requirement 1. Describe each of Green Earth's long-term labies and state how the liability arose. Choose the correct liability from the list that best fits the description provided The amount that the company expects to pay after the coming year, the result from the company borrowing money The result of timing diferences between GAAP and tax accounting methods (such as dopreciation). Income tax expense might after between GAAP book income ('Income Tax Expense") and taxable income according to Internal Revenue regulations ("Income Tax Payable") The result from a company entering into long-term leases, such as for leasing property and equipment. The account includes both operating and finance leases that last longer than 12 months, and reflects the obligation for future lease payments. Requirement 2. What were the company's total assets at December 31, 20212 Evaluate the company's leverage and debt ration at the end of 2020 and 2021 Use year and figures in place of everages where needed for calculating the ratios in this exercio. Did the company improve deteriorate, ce remain about the same Over the year What were the company's total assets at December 31, 20212 The total at December 31, 2021 wote million Evaluate the company's leverage and debt ratio at the end of 2020 and 2021. Did the company improve, deteriorate, or remain about the same over the year? Begin by computing the ratios. Determine the formula for the debt ratio. Then complete the formula and calculate the debt ratios at the end of 2020 and 2021 (Enter amounts in millions. Round your answers to two decimal places Debt ratio 2021 2020 Now determine the formula for the lovernge ratio Then complete the formula and calculate the leverage ratios at the end of 2020 and 2021. Enter amounts in million Round your newers to two decimal place) Leverage ratio 2021 2020 Did the company improve deler, or remain about the same over the year! Both the average ratio and debt ratio in 2021. The company over the you
