Question: Exercise 9-89 (Algorithmic) Ratio Analysis Rising Stars Academy provided the following information on its 2019 Balance Sheet and Statement of Cash Flows: Long-term debt $4,400

 Exercise 9-89 (Algorithmic) Ratio Analysis Rising Stars Academy provided the following
information on its 2019 Balance Sheet and Statement of Cash Flows: Long-term

Exercise 9-89 (Algorithmic) Ratio Analysis Rising Stars Academy provided the following information on its 2019 Balance Sheet and Statement of Cash Flows: Long-term debt $4,400 Interest expense $ 398 Total liabilities 8,812 Net Income Total assets 38,775 Interest payments 432 Total equity 29,803 Cash flows from operations 1,223 Income tax expenses Operating income 266 Income taxes paid 150 559 1,015 Required: Calculate the following ratios for Rising Stars Academy. Round your answers to three decimal places. a. Debt to equity Income taxes paid 150 Required: Calculate the following ratios for Rising Stars Academy. Round your answers to three decimal places. a. Debt to equity b. Debt to total assets C. Long-term debt to equity d. Times interest earned (accrual basis) e. Times Interest earned (cash basis)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!