The following information was available for the year ended December 31, 2013; Earnings before interest and taxes $ 69,000 Net income $38,000 (operating income) Interest expense 13,000 Income tax expense 18,000 Total assets at year-end 230,000 Total liabilities at year- end 132,000 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

The following information was available for the year ended December 31, 2013; Earnings before interest and taxes $ 69,000 Net income $38,000 (operating income) Interest expense 13,000 Income tax expense 18,000 Total assets at year-end 230,000 Total liabilities at year- end 132,000 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

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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