Question

The balance sheet for Shaver Corporation reported the following: cash, $12,500; short-term investments, $17,500; net accounts...

The balance sheet for Shaver Corporation reported the following: cash, $12,500; short-term investments, $17,500; net accounts receivable, $50,000; inventories, $55,000; prepaids, $17,500; equipment, $103,000; current liabilities, $55,000; notes payable (long-term), $85,000; total stockholders’ equity, $115,500; net income, $4,820; interest expense, $7,400; income before income taxes, $9,780. Compute Shaver’s debt-to-assets ratio and times interest earned ratio.

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