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The following data were taken from the financial statements of Hunter Inc. for December 3 1 of two recent years: Current Year Prior Year Accounts

The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years:
Current Year Prior Year
Accounts payable $426,000 $128,000
Current maturities of serial bonds payable 280,000280,000
Serial bonds payable, 10%1,160,0001,440,000
Common stock, $1 par value 70,00080,000
Paid-in capital in excess of par 680,000690,000
Retained earnings 2,360,0001,870,000
The income before income tax expense was $532,800 and $466,200 for the current and prior years, respectively.
a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place.
Current year fill in the blank 1
Prior year fill in the blank 2
b. Determine the times interest earned ratio for both years. Round to one decimal place.
Current year fill in the blank 3
Prior year fill in the blank 4
c. The ratio of liabilities to stockholders' equity have
and the times interest earned ratio has
from the previous year. These results are the combined result of a
income before income taxes and
interest expense in the current year compared to the previous year.

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