The following information was available for the year ended December 31, 2019:

Earnings before interest and taxes (operating income)$97,500

Interest expense15,000

Income tax expense22,500

Net income60,000

Total assets at year-end288,000

Total liabilities at year-end216,000

Required:

(a.) Calculate the debt ratio at December 31, 2019.

(b.) Calculate the debt/equity ratio at December 31, 2019.

(c.) Calculate the times interest earned for the year ended December 31, 2019.