The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years:

Current Year Previous Year Accounts payable $330,000 $198,000

Current maturities of serial bonds payable 340,000 340,000 S

erial bonds payable, 10% 1,570,000 1,910,000

Common stock, $1 par value 70,000 80,000

Paid-in capital in excess of par 700,000 710,000

Retained earnings 2,430,000 1,930,000

The income before income tax was $573,000 and $501,400 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
Previous year

b. Determine the times interest earned ratio for both years. Round to one decimal place.

Current year
Previous year