The following information was available for the year ended December 31, 2019:

Earnings before interest and taxes (operating income)...................... $120,000
Interest expense........................................................................................... 24,000
Income tax expense...................................................................................... 30,000
Net income .................................................................................................... 66,000
Total assets at year-end ............................................................................ 400,000
Total liabilities at year-end......................................................................... 280,000

Required:

a. Calculate the debt ratio at December 31, 2019.

b. Calculate the debt/equity ratio at December 31, 2019.

c. Calculate the times interest earned for the year ended December 31, 2019.