Brief Exercise $9-23($Algo$)$ Calculate ratios $($LO$9-8)$

Surf's Up$,$ a manufacturer of surfing supplies and training equipment, has the following selected data $(\backslash$$ in millions;

$\backslash$begin$\{$tabular$\}\{$llll$\}$

$\backslash$multicolumn$\{4\}\{$c$\}\{$ Surf"s Up $\}\backslash \backslash$

Selected Balance Shoet Data & & $\backslash \backslash$

& $2024$ & $2023\backslash \backslash$

$\backslash$hline Total assets & $\backslash (\backslash$$ $743\backslash )$ & $\backslash (\backslash$$ $734\backslash )\backslash \backslash$

Total liabilities & $616$ & $518\backslash \backslash$

Total stockholders' equity & $127$ & $216\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

$\backslash$begin$\{$tabular$\}\{$lr$\}$

$\backslash$multicolumn$\{2\}\{$c$\}\{$ Surf's Up $\}\backslash \backslash$

$\backslash$multicolumn$\{2\}\{$c$\}\{$ Selected Incone Statenent aata $\}\backslash \backslash$

Sales revenue & $2024\backslash \backslash$

Interest expense & $\backslash (\backslash$$ $311\backslash )\backslash \backslash$

Incone tax expense & $19\backslash \backslash$

Net incone & $32\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Based on these amounts, calculate the following ratlos for $2024$: $($Do not round Intermedlate calculations. Round all final answers to $1$ decimal place. Enter your answer ln millions $($l$.$e$.5,500,000$ should be entered as $\backslash (5\mathrm{.}5\backslash \%\backslash )-)$

Answer is complete but not entlrely correct.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{4\}\{|$l$|\}\{$Dobt to Equity Ratio$\}\backslash \backslash$

$\backslash$hline Numerator $+$ Denominator & Amounts & & $\backslash \backslash$

$\backslash$hline Total Liabilities & $5616\mathrm{.}00$ & & $49\backslash \backslash$

$\backslash$hline Total Stockholdors' Equity of & $\backslash$$ $127\mathrm{.}00$ & & $4\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{4\}\{|$l$|\}\{$Return on Assets Ratio$\}\backslash \backslash$

$\backslash$hline Numerator $+$ Denominator & Amounts & & $\backslash \backslash$

$\backslash$hline Not Income & $554\mathrm{.}00$ & & $739\mathrm{.}7\backslash \%\backslash \backslash$

$\backslash$hline Avorage Total Assots of & $5(7\mathrm{.}30$ & $-$ & $139\mathrm{.}7\backslash \%\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{4\}\{|$l$|\}\{$Times Interest Earned Ratio$\}\backslash \backslash$

$\backslash$hline Numerator $+$ Denominator & Amounts & & $\backslash \backslash$

$\backslash$hline Not Income $+$ Intersat Expense $+$ Income Tax Expense & $5105\mathrm{.}00$ & & $5\mathrm{.}5\backslash \backslash$

$\backslash$hline Interest Expense of & $\backslash$$ $19\mathrm{.}00$ & $\backslash (=\backslash )$ & $5\mathrm{.}5\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$