The following data were taken from the financial statements of Hermes Inc. for December 31, 2012 and 2011: *Accounts Payable Dec. 31, 2012: 473,960 Dec. 31, 2011: 325,000 *Current Maturities of serial bonds payable Dec. 31, 2012: 500,000 Dec. 31, 2011: 500,000 *Serial bonds payable, 9%, issues 2007, due 2017 Dec. 31, 2012: 2,500,000 Dec. 31, 2011: 3,000,000 *Common stock, $1 par value Dec. 31, 2012: 100,000 Dec. 31, 2011: 100,000 *Paid-in capital in excess of par Dec. 31, 2012: 1,200,000 Dec. 31, 2011: 1,200,000 *Retained earnings Dec. 31, 2012: 3,662,800 Dec. 31, 2011: 2,950,000 The income before income tax was $891,000 and $787,500 for the years 2012 and 2011, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Dec. 31, 2012: Dec. 31, 2011: b. Determine the number of times the bond interest charges are earned during the year for both years. Round to one decimal place. Dec. 31, 2012: Dec. 31, 2011: c. What conclusions can be drawn from these data as to the company's ability to meet its currently maturing debts