Required: Compute the following financial ratios for this year: 1. Times interest earned ratio. (Round your...

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Required: Compute the following financial ratios for this year: 1. Times interest earned ratio. (Round your answer to nearest whole number.) Answer is complete but not entirely correct. Times interest earned ratio 48x 2. Debt-to-equity ratio. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Debt-to-equity ratio 47.01 X Sales This Year $204,000 Last Year $202,000 129,000 Cost of goods sold 131,400 Gross margin 72,600 73,000 Selling and administrative expenses: Selling expenses 35,400 33,900 Administrative expenses 22,800 21,600 Total selling and administrative expenses 58,200 55,500 Operating income 14,400 17,500 Interest expense. 920 920 Net income before taxes 13,480 Income taxes 4,044 Net income 9,436 Dividends to preferred shareholders Net income remaining for common shareholders. Dividends to common shareholders Net income added to retained earnings Retained earnings, beginning of year Retained earnings, end of year 180 9,256 510 8,746 64,934 $ 73,680 16,580 4,974 11,606 920 10,686 1,023 9,663 55,271 $ 64,934 Required: Compute the following financial ratios for this year: 1. Times interest earned ratio. (Round your answer to nearest whole number.) Answer is complete but not entirely correct. Times interest earned ratio 48x 2. Debt-to-equity ratio. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Debt-to-equity ratio 47.01 X Sales This Year $204,000 Last Year $202,000 129,000 Cost of goods sold 131,400 Gross margin 72,600 73,000 Selling and administrative expenses: Selling expenses 35,400 33,900 Administrative expenses 22,800 21,600 Total selling and administrative expenses 58,200 55,500 Operating income 14,400 17,500 Interest expense. 920 920 Net income before taxes 13,480 Income taxes 4,044 Net income 9,436 Dividends to preferred shareholders Net income remaining for common shareholders. Dividends to common shareholders Net income added to retained earnings Retained earnings, beginning of year Retained earnings, end of year 180 9,256 510 8,746 64,934 $ 73,680 16,580 4,974 11,606 920 10,686 1,023 9,663 55,271 $ 64,934