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Back to Library QID: #1072

Solution for QID #1072: The following information was available for the year ended D | StudyHelpMe

Subject: Accounting
Status: Made to Order
The following information was available for the year ended December 31, 2013: Earnings before interest and taxes (operating income)$75,000 Net income$40,000 Interest expense15,000 Total assets at year-end250,000 Income tax expense20,000 Total liabilities at year-end140,000 Required:a.Calculate the debt ratio at December 31, 2013. (Round your answer to 1 decimal place.) Debt ratio: ____________% b.Calculate the debt/equity ratio at December 31, 2013. (Round your answer to 2 decimal places.) Debt/equity ratio: _________ times c.Calculate the times interest earned for the year ended December 31, 2013. (Round your answer to 2 decimal places.)Times interest earned: __________ times
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