The following selected information (in thousands) is available for Steering Limited:Total assetsTotal liabilitiesInterest expenseIncome tax expenseNet incomeCash provided by operating activitiesNet capital expendituresDividends paid on common shares2021$3,9232,177151734098553991102020$3,7011,9622615137857929790 (a)Calculate all possible solvency ratios for 2021 and 2020. (Round answers to 1 decimal place e.g. 6.2. Enter free cash flow amounts inthousands.)Debt to total assetsFree cash flowTimes interest earned$LA2021%times$LA2020%times

Solvency Ratios :— These are the ratios which are calculated to measure the ability of the…

Calculate all possible solvency ratios for 2021 and 2020. (Round answers to 1 decimal place e.g. 6.2. Enter free cash flow amounts in thousands.) Debt to total assets Free cash flow Times interest earned $ 2021 % times $ 2020 % times

Calculate all possible solvency ratios for 2021 and 2020. (Round answers to 1 decimal place e.g. 6.2. Enter free cash flow amounts in thousands.) Debt to total assets Free cash flow Times interest earned $ 2021 % times $ 2020 % times

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The following selected information (in thousands) is available for Steering Limited:
Total assets
Total liabilities
Interest expense
Income tax expense
Net income
Cash provided by operating activities
Net capital expenditures
Dividends paid on common shares
2021
$3,923
2,177
15
173
409
855
399
110
2020
$3,701
1,962
26
151
378
579
297
90

(a)
Calculate all possible solvency ratios for 2021 and 2020. (Round answers to 1 decimal place e.g. 6.2. Enter free cash flow amounts in
thousands.)
Debt to total assets
Free cash flow
Times interest earned
$
LA
2021
%
times
$
LA
2020
%
times

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