Calculate the Debt-To-Assets Ratio and the Times Interest Earned Ratio

Essay

Calculate the debt-to-assets ratio and the times interest earned ratio for the following company.
$\begin{array}{c} \hline\text { Gil's Fish and Tackle, Inc.Balance Sheet At December 31,2018 }\\\begin{array}{|l} \hline \text { Assets } & \\ \hline\text { Cash } & \\ \hline \text {Accounts Receivable (less allowance) } & \\ \hline\text { Inventories } & \\\hline \text { Property, Plant, and Equipment} & \\\hline \text { Long-term Investments } & \\ \hline \text {Total Assets } & \\\hline \text {Liabilities } & \\\hline \text { Account Payable} & \\ \hline \text { Current Portion of Long-Term Debt } & \\ \hline \text { Bonds Payable } & \\ \hline \text { Total Liabilities } & \\\hline \text { Shareholders' Equity} & \\ \hline \text {Contributed Capital } & \\\hline \text { Retained Earnings } & \\ \hline\text { Total Equity } & \\ \hline\text { Total Liabilities and Equity} & \\\hline\end{array}\begin{array}{|r|}\hline\\\hline \$ 22,200 \\\hline 169,100 \\\hline 68,300 \\\hline 102,800 \\\hline 30,000 \\\hline \$ 392,400 \\\hline\\\hline \$ 49,200 \\\hline 68,800 \\\hline \underline{100,000} \\\hline \underline{218,000} \\\hline\\\hline 100,000 \\\hline \underline{74,400} \\\hline \underline{174,400} \\\hline \$ 392,400 \\\hline\end{array}\end{array}$