Homework Answers
Solution:
Debt to assets ratio = Total Liabilities / Total Assets
for 2017 = $7776/ $12960 = 0.60
for 2016 = $7018 / $12100 = 0.58
Times Interest Earned Ratio = Income before interest and taxes / Interest expense
for 2017 = ($1050+270+300) / $270 = 6.00 times
for 2016 = ($970 +270+245) / $270 = 5.50 times
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2016
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$
42,472
$
42,524
Accounts receivable, net
107,459
73,568
56,120
Merchandise inventory
139,163
102,226
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At December 31
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2016
2015
Assets
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$
36,335
$
42,472
$
42,524
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107,459
73,568
56,120
Merchandise inventory
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102,226
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11,377
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628,417
$
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438,300
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159,605
$
89,723
$
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123,354
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