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

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

Interest expense 15,000

Income tax expense 22,500

Net income 60,000

Total assets at year-end 288,000

Total liabilities at year-end 216,000

(a.) Calculate the debt ratio at December 31, 2016.

(b.) Calculate the debt/equity ratio at December 31, 2016.

(c.) Calculate the times interest earned for the year ended December 31, 2016.