Aire Corporation Reports the Following Selected Financial Statement Information at December

Essay

Aire Corporation reports the following selected financial statement information at December 31 2017: $$\begin{array} { l r } \text { Total Assets } & \$ 120,000 \\\text { Total Liabilities } & 75,000 \\\text { Net Income } & 20,000 \\\text { Interest Revenue } & 1,600 \\\text { Interest Expense } & 800 \\\text { Income Tax Expense } & 400\end{array}$$ Instructions
Calculate the debt to assets and times interest earned ratios.