A company has the following selected data ($ in millions): 2021 2020Balance sheet data Total assets$3,500$2,150Total liabilities 1,650 1,000Total stockholders' equity 1,850 1,150 Income statement data Sales$890 Interest expense 70 Tax expense 36 Net income 100 Based on these amounts, calculate the following ratios for the company in 2021: (Round your answers to 2 decimal places.) 1- debt to equity ratio: ______2-return on assets ratio: _____%3- times interest earned ratio: _____times

Ratio analysis is a method of measuring the financial position of the organization with different…

Answered: A company has the following selected…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 103.1C: Leverage Cook Corporation issued financial statements at December 31, 2019, that include the...

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A company has the following selected data ($ in millions):

		2021		2020
Balance sheet data
Total assets	$	3,500	$	2,150
Total liabilities		1,650		1,000
Total stockholders' equity		1,850		1,150

Income statement data
Sales	$	890
Interest expense		70
Tax expense		36
Net income		100

Based on these amounts, calculate the following ratios for the company in 2021: (Round your answers to 2 decimal places.)

1- debt to equity ratio: ______

2-return on assets ratio: _____%

3- times interest earned ratio: _____times

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