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 $710,000 $214,000 Current maturities of serial bonds payable 470,000 470,000 Serial bonds payable, 10% 1,940,000 2,410,000 Common stock, $1 par value 110,000 130,000 Paid-in capital in excess of par 1,140,000 1,150,000 Retained earnings 3,950,000 3,140,000 The income before income tax expense was $939,900 and $822,400 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

The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: The income before income tax expense was $939,900 and $822,400 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