Paddys Pub reported the following year-end data: income before interest expense and income tax expense of $30,000;cost

Question:

Paddy’s Pub reported the following year-end data: income before interest expense and income tax expense of $30,000;cost of goods sold of $17,000; interest expense of $1,500; total assets of $70,000; total liabilities of $20,000; and total equity of $50,000. Compute the

(a) Debt-to-equity ratio

(b) Times interest earned. Round to one decimal.

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