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The following information was available for the year ended December 31, 2019: Earnings before interest and taxes (operating income) $ 87,000 Interest expense 19,000 Income

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

Earnings before interest and taxes (operating income) $ 87,000 Interest expense 19,000 Income tax expense 24,000 Net income 44,000 Total assets at year-end 290,000 Total liabilities at year-end 156,000

Required:

  1. Calculate the debt ratio at December 31, 2019. (Round your answer to 1 decimal place.)
  2. Calculate the debt/equity ratio at December 31, 2019. (Round your answer to 2 decimal places.)
  3. Calculate the times interest earned for the year ended December 31, 2019. (Round your answer to 2 decimal places.)

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