0. Granger Corporation reports the following amounts in
Transcribed Image Text:
0. Granger Corporation reports the following amounts in their 2021 financial statements:
At December 31, 2021
For the Year 2021
Total assets
Total liabilities
Interest expense
Income tax expense
Net income
$1,900,000
1,510,000
Instructions
O abnorm
(a) Compute the debt to assets ratio at December 31, 2021.
(b) Compute times interest earned for 2021.
(Worth 2.5 points)
$26,000
140,000
170,000