The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Previous Year Accounts payable $342,000 $170,000 Current maturities of serial bonds payable 290,000 290,000 Serial bonds payable, 10% 1,320,000 1,610,000 Common stock, $1 par value 50,000 60,000 Paid-in capital in excess of par 510,000 540,000 Retained earnings 1,850,000 1,470,000 The income before income tax was $563,500 and $493,100 for the current and previous years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place Current year Previous year b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Previous year from the and the times interest eamed ratio has income before income taxes and interest expense c. The ratio of liabilities to stockholders' equity has previous year. These results are the combined result of a In the current year compared to the previous year