Trooper Corporation Reports the Following Amounts in Their 2017 Financial

Essay

Trooper Corporation reports the following amounts in their 2017 financial statements: $\begin{array}{lc}& \underline{\text { At December 31,2017}}& \underline{\text { For the Year 2017}}\\\text { Total assets } & \$ 2,000,000 \\\text { Total liabilities } & 1,310,000 \\\text { Total stockholders' equity } & ?\\\text { Interest expense } && \$ 25,000 \\\text { Income tax expense } && 130,000 \\\text { Net income }& & 150,000\end{array}$ Instructions
(a) Compute the December 31 2017 balance in stockholders' equity.
(b) Compute the debt to assets ratio at December 31 2017.
(c) Compute times interest earned for 2017.