Question

At April 30, 2013, H. J. Heinz reported the following amounts (in millions) in its financial statements:
Required:
1. Compute the debt-to-assets ratio and times interest earned ratio (to two decimal places) for 2013 and 2012.
2. Use your answers to requirement 1 to determine whether, in 2013, (a) creditors were providing a greater (or lesser) proportion of financing for Heinz’s assets and (b) Heinz was more (or less) successful at covering its interest costs, as compared to 2012.

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