Houle Plumbing Products Ltd. reported the following data in 2020 (in millions): E (Click the icon to view the financial statements.) Compute Houle's leverage ratio, debt ratio, and times-interest-earned ratio, and write a sentence to explain what those ratio values mean. Would you be willing to lend Houle $1 million? State your reason. First, compute Houle's leverage ratio. Determine the formula for the leverage ratio. Then, complete the formula and calculate the leverage ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) - Leverage ratio - X Financial statements This means that Houle has Sof Now, determine the formula for the debt ratio. Then, complete the formula and calculate the debt ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) 2020 Debt ratio Net operating revenues 28.4 24.2 Operating expenses This means that Houle has S in Operating income. 4.2 Non-operating items: Determine the formula for the times-interest-earned ratio. Then, complete the formula and calculate the debt ratio. (Enter all amounts in millions. Round your answer to two decimal places, X.XX.) Interest expense (0.8) - Time-interest-earned ratio Other (0.5) 2.9 Net income This means that $ 180 0 Total assets. a te lend Meule St 63.0

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