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Where did I go wrong? M10-13 Computing the Debt-to-Assets Ratio and the Times Interest Earned Ratio [LO 10-5] The balance sheet for Shaver Corporation reported
Where did I go wrong?
M10-13 Computing the Debt-to-Assets Ratio and the Times Interest Earned Ratio [LO 10-5] The balance sheet for Shaver Corporation reported the following: cash, $17,000; short-term investments, $22,000, net accounts receivable, $59,000; inventories, $64,000; prepaids, $22,000; equipment, $107,000; current liabilities, $64,000; notes payable (long- term), $94,000; total stockholders' equity, $133,000; net income, $5,720; interest expense, $9,200; income before income taxes, $12,480. 1. Compute Shaver's debt-to-assets ratio and times interest earned ratio. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Debt-to-Assets Times Interest Earned Ratio 54.00 2.35Step by Step Solution
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