Southwestern Industries has the following selected data ($ in millions): Balance sheet data Total assets Total liabilities Total stockholders' equity Income statement data Sales Interest expense Income tax expense Net income 2024 1. Debt to equity ratio 2. Return on assets ratio 3. Times interest earned ratio $2,700 1,950 750 $750 80 30 95 Required: Based on these amounts, calculate the following ratios for Southwestern Industries in 2024: (Round your answers to 2 decimal places.) % 2023 times $2,100 1,100 1,000

Southwestern Industries has the following selected data ($ in millions): Balance sheet data Total assets Total liabilities Total stockholders' equity Income statement data Sales Interest expense Income tax expense Net income 2024 1. Debt to equity ratio 2. Return on assets ratio 3. Times interest earned ratio $2,700 1,950 750 $750 80 30 95 Required: Based on these amounts, calculate the following ratios for Southwestern Industries in 2024: (Round your answers to 2 decimal places.) % 2023 times $2,100 1,100 1,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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