Given the Following Information for the Siri Company, Calculate the Ratios

Essay

Given the following information for the Siri Company, calculate the ratios as requested.
$\begin{array}{lll}&\text { December } 31, & \text { December } 31, \\&\text { Year } 1 & \text { Year } 2\\\text { Current assets } & \$ 100,000 & \$ 150,000 \\\text { Noncurrent assets } & 400,000 & 500,000 \\\text { Current liabilities } & 50,000 & 100,000 \\\text { Long-term debt } & 300,000 & 300,000 \\\text { Common stock, } 10,000 \text { shares } & 100,000 & 100,000 \\\text { Retained earmings } & 50,000 & 150,000\end{array}$

$\begin{array}{lc}&\text { Year } 2\\\text { Net income } & \$ 100,000 \\\text { Interest expense } & 40,000 \\\text { Income taxes } & 30,000 \\\text { Total revenues } & 1,000,000\end{array}$

a. Interest coverage ratio
b. Long-term debt ratio at December 31, Year 2
c. Total assets tumover