Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below: Current liabilities $186 Income before interest and taxes $190 10% Bonds, long-term 350 Interest expense 35 Total liabilities 536 Income before tax 155 Stockholders' equity Income tax 31 Common stock 230 Net income $124 Retained earnings 298 Total stockholders' equity 528 Total liabilities and equity $1,064 HHE's times interest earned ratio is: (Round your answer to 2 decimal places.)
Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below: Current liabilities $186 Income before interest and taxes $190 10% Bonds, long-term 350 Interest expense 35 Total liabilities 536 Income before tax 155 Stockholders' equity Income tax 31 Common stock 230 Net income $124 Retained earnings 298 Total stockholders' equity 528 Total liabilities and equity $1,064 HHE's times interest earned ratio is: (Round your answer to 2 decimal places.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
This is part a and b please answer both
Transcribed Image Text:Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below:
Current liabilities
2$
186
Income before interest and taxes
$190
10% Bonds, long-term
350
Interest expense
35
Total liabilities
536
Income before tax
155
Stockholders' equity
Income tax
31
Common stock
230
Net income
$124
Retained earnings
Total stockholders' equity
298
528
Total liabilities and equity
$1,064
HHE's times interest earned ratio is: (Round your answer to 2 decimal places.)
Transcribed Image Text:Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
2021
2020
Accounts receivable
$ 42,000 $ 45,000
Inventory
32,000
38,000
Net sales
197,000
197,000
Cost of goods sold
116,000
115,000
Total assets
429,000
414,000
Total stockholders' equity
244,000
231,000
Net income
37,500
29,000
Stealth Company's 2021 debt to equity ratio is: (Round your answer to 1 decimal place.)
Multiple Choice
75.8%.
42.1%.
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