The following information is from the 20X1 annual report of Weber Corporation, a company that supplies manufactured parts to the household appliance industry.

Average total assets $24, 500,000 Average interest-bearing debt 10,000,000 Average other liabilities 2, 250,000 Average shareholders' equity 12, 250,000 Sales 49,000,000 Interest expense 400,000 Net income 2, 450,000