Times-Interest-Earned Ratio, Debt Ratio, Debt-to-Equity Ratio Juroe Company provided the following income statement for last year: Sales $12,800,000 Cost of goods sold 7,200,000 Gross margin $5,600,000 Operating expenses 2,600,000 Operating income $3,000,000 Interest expense 800,000 Income before taxes $2,200,000 Income taxes 640,000 Net income $1,560,000 Juroe's balance sheet as of December 31 last year showed total liabilities of $2,540,000, total equity of $9,470,000, and total assets of $12,010,000. Required: Round answers to two decimal places.

1. Calculate the times-interest-earned ratio. times

Calculate the debt ratio.

3. Calculate the debt-to-equity ratio.