The 2018 financial statements for Corner Supply, Inc., show total assets of $515,000, total liabilities of...

 

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The 2018 financial statements for Corner Supply, Inc., show total assets of $515,000, total liabilities of $305,000, net sales of $900,000, net income of $170,000, income from operations of $235,000, cost of goods sold of $675,000, dividends of $26,000, and interest expense of $28,000. Total assets and total liabilities for 2017 were $490,000 and $300,000, respectively. Read the requirements. 1. Compute the debt ratio for 2018. Select the formula needed to determine this amount and then enter the amounts to calculate the ratio. (Round your answer to the nearest hundredth percent, X.XX%) cheatin 2. Compute the interest coverage ratio for 2018. Select the formula needed to determine this amount and then enter the amounts to calculate the ratio. (Round your answer to two decimal places, X.XX.) The 2018 financial statements for Corner Supply, Inc., show total assets of $515,000, total liabilities of $305,000, net sales of $900,000, net income of $170,000, income from operations of $235,000, cost of goods sold of $675,000, dividends of $26,000, and interest expense of $28,000. Total assets and total liabilities for 2017 were $490,000 and $300,000, respectively. Read the requirements. 1. Compute the debt ratio for 2018. Select the formula needed to determine this amount and then enter the amounts to calculate the ratio. (Round your answer to the nearest hundredth percent, X.XX%) cheatin 2. Compute the interest coverage ratio for 2018. Select the formula needed to determine this amount and then enter the amounts to calculate the ratio. (Round your answer to two decimal places, X.XX.)

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1 The debt ratio is calculated by dividing total liabilities by total a... View the full answer