Rising Stars Academy provided the following information on its 2019 Balance Sheet and Statement of Cash Flows:Long-term debt$ 4,400Interest expense$ 398Total liabilities8,382Net income559Total assets38,775Interest payments432Total equity29,803Cash flows from operations1,015Operating income1,223Income tax expenses266Income taxes paid150Required:Calculate the following ratios for Rising Stars Academy. Round your answers to three decimal places.a. Debt to equityb. Debt to total assetsc. Long-term debt to equityd. Times interest earned (accrual basis)e. Times interest earned (cash basis)

Debt to Equity Ratio = Total Liabilities / Total Equity Debt to Total asset = Total Liabilities /…

Calculate the following ratios for Rising Stars Academy. Round your answers to three decimal places. a. Debt to equity b. Debt to total assets c. Long-term debt to equity d. Times interest earned (accrual basis) e. Times interest earned (cash basis)

Calculate the following ratios for Rising Stars Academy. Round your answers to three decimal places. a. Debt to equity b. Debt to total assets c. Long-term debt to equity d. Times interest earned (accrual basis) e. Times interest earned (cash basis)

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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