The following financial information is excerpted from the 2012 annual report of Retail Products, Inc. Balance Sheet (in thousands) 2012 2011 $ 449,195 $ 433,049 55,072 Current assets 32,822 Investments Deferred charges Property, plant, and cquipment, net Trademarks and leaseholds 4,905 350,921 45,031 12,769 403,128 47,004 Excess of cost over fair market value of net assets acquired Assets held for disposal 272,146 276,639 10.247 6062 2|Page Godfred A. Bokpin & Eunice P. Offei, UGBS TGBTG S1,161.082 S1.237.908 S 689,535 471.547 SL.161.082 $ 721,149 316,759 S1.237.908 Total liabilities Total stockholders' equity Income Statement $1,841,738 (1,787,126) (250,000) 30.000 S.225,388 Net sales Cost of goods sold Seiling and administrative Interest expense Net income (loss) $2,020,526 2018,436) (300,000) (40,000) S337.910) Required: a. For each year compute: 1. Times interest earned 2. Debt ratio 3. Debt/equity ratio 4. Debt to tangible net worth ratio b. Comment on the results. c. Docs a times interest carned ratio of less than 1 to 1 mean that the firm cannot pay its interest expense?