The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current YearPrevious YearAccounts payable$576,000 $280,000 Current maturities of serial bonds payable510,000 510,000 Serial bonds payable, 10%2,290,000 2,800,000 Common stock, $1 par value80,000 110,000 Paid-in capital in excess of par930,000 930,000 Retained earnings3,210,000 2,550,000 The income before income tax was $1,064,000 and $931,000 for the current and previous years, respectively.a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place.Current yearfill in the blank 1Previous yearfill in the blank 2b. Determine the times interest earned ratio for both years. Round to one decimal place.Current yearfill in the blank 3Previous yearfill in the blank 4c. The ratio of liabilities to stockholders' equity has and the times interest earned ratio has from the previous year. These results are the combined result of a income before income taxes and interest expense in the current year compared to the previous year. CengageNOWv2 | OnlineC Search Textbook Solutions XHomework Help - Q&A fr Xbartleby - BingMy Questions | bartlebyhttps://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=falseRatio of Liabilities to Stockholders' Equity and Times Interest Earned1. PE.17-04.ALGOThe following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years:2. PE.17-05.ALGOCurrent YearPrevious YearAccounts payable$576,000$280,0003. PE.17-11.ALGOCurrent maturities of serial bonds payable510,000510,0004. EX.17-12.ALGOSerial bonds payable, 10%2,290,0002,800,000Common stock, $1 par value80,000110,0005. EX.17-13.ALGOPaid-in capital in excess of par930,000930,0006. EX.17-20.ALGORetained earnings3,210,0002,550,000The income before income tax was $1,064,000 and $931,000 for the current and previous years, respectively.7. PR.17-04.ALGOa. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place.Current yearPrevious yearb. Determine the times interest earned ratio for both years. Round to one decimal place.Current yearPrevious yearc. The ratio of liabilities to stockholders' equity hasand the times interest earned ratio hasfrom the previous year. These results are the combined result of aincome before income taxes andinterest expense in the current year compared to the previous year.PreviousNextProgress: 5/7 items11:12 PM2 Type here to search91°FW6/19/20218.

The ratio analysis is helpful to analyze the financial statements of the business for future…

The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Previous Year Accounts payable $576,000 $280,000 Current maturities of serial bonds payable 510,000 510,000 Serial bonds payable, 10% 2,290,000 2,800,000 Common stock, $1 par value 80,000 110,000 Paid-in capital in excess of par 930,000 930,000 Retained earnings 3,210,000 2,550,000 The income before income tax was $1,064,000 and $931,000 for the current and previous years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Previous year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Previous year fill in the blank 4 c. The ratio of liabilities to stockholders' equity has and the times interest earned ratio has from the previous year. These results are the combined result of a income before income taxes and interest expense in the current year compared to the previous year.

The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Previous Year Accounts payable $576,000 $280,000 Current maturities of serial bonds payable 510,000 510,000 Serial bonds payable, 10% 2,290,000 2,800,000 Common stock, $1 par value 80,000 110,000 Paid-in capital in excess of par 930,000 930,000 Retained earnings 3,210,000 2,550,000 The income before income tax was $1,064,000 and $931,000 for the current and previous years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Previous year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Previous year fill in the blank 4 c. The ratio of liabilities to stockholders' equity has and the times interest earned ratio has from the previous year. These results are the combined result of a income before income taxes and interest expense in the current year compared to the previous year.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter7: Payroll

Section: Chapter Questions

Problem 2.11C

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	Current Year	Previous Year
Accounts payable	$576,000		$280,000
Current maturities of serial bonds payable	510,000		510,000
Serial bonds payable, 10%	2,290,000		2,800,000
Common stock, $1 par value	80,000		110,000
Paid-in capital in excess of par	930,000		930,000
Retained earnings	3,210,000		2,550,000

Current year	fill in the blank 1
Previous year	fill in the blank 2

Current year	fill in the blank 3
Previous year	fill in the blank 4