The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent Accounts payable Current maturities of serial bonds payable Serial bonds payable, 10% Common stock, $1 par value Paid-in capital in excess of par Retained earnings The income before income tax was $390,400 and $341,600 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 Current Year $364,000 240,000 980,000 50,000 580,000 2,010,000 $108,000 240,000 1,220,000 70,000 580,000 1,590,000 Previous year 1 x b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Previous year C. The ratio of liabilities to stockholders equity asand the number of times bond interest charges were earned has from the previous year. These results are the combined result of a interest expense in the current year compared to the previous vear income before income taxes and Previous Next