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

The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years:
Line Item Description Current
Year Previous
Year
Accounts payable $924,000 $800,000
Current maturities of serial bonds payable 200,000200,000
Serial bonds payable, 10%1,000,0001,200,000
Common stock, $10 par value 250,000250,000
Paid-in capital in excess of par 1,250,0001,250,000
Retained earnings 860,000500,000
The income before income tax expense was $480,000 and $420,000 for the current and previous years, respectively.
a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round your answers to one decimal place.
Line Item Description Ratio
Current year fill in the blank 1
0.9
Previous year fill in the blank 2
1.1
Determine the times interest earned ratio for both years. Round your answers to one decimal place.
Line Item Description Ratio
Current year fill in the blank 3
Previous year fill in the blank 4

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