The following information was available for the year ended December 31, 2013: Earnings before interest and taxes (operating income) $ 75,000 Net income $ 40,000 Interest expense 15,000 Total assets at year-end 250,000 Income tax expense 20,000 Total liabilities at year-end 140,000 Required: a. Calculate the debt ratio at December 31, 2013. (Round your answer to 1 decimal place.) b. Calculate the debt/equity ratio at December 31, 2013. (Round your answer to 2 decimal places.) c. Calculate the times interest earned for the year ended December 31, 2013. (Round your answer to 2 decimal places.)

The following information was available for the year ended December 31, 2013: Earnings before interest and taxes (operating income) $ 75,000 Net income $ 40,000 Interest expense 15,000 Total assets at year-end 250,000 Income tax expense 20,000 Total liabilities at year-end 140,000 Required: a. Calculate the debt ratio at December 31, 2013. (Round your answer to 1 decimal place.) b. Calculate the debt/equity ratio at December 31, 2013. (Round your answer to 2 decimal places.) c. Calculate the times interest earned for the year ended December 31, 2013. (Round your answer to 2 decimal places.)

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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