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The following information was available for the year ended December 31, 2016: Earnings before interest and taxes (operating income) $ 66,000 Interest expense 12,000 Income

The following information was available for the year ended December 31, 2016:

Earnings before interest and taxes (operating income) $ 66,000
Interest expense 12,000
Income tax expense 17,000
Net income 37,000
Total assets at year-end 220,000
Total liabilities at year-end 128,000

Required:

a. Calculate the debt ratio at December 31, 2016. (Round your answer to 1 decimal place.)

b. Calculate the debt/equity ratio at December 31, 2016. (Round your answer to 2 decimal places.)

c. Calculate the times interest earned for the year ended December 31, 2016. (Round your answer to 2 decimal places.)

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