# Financial​ ratios: Financial leverage.  The financial statements for Tyler​ Toys, Inc. are shown in the popup​...

###### Question:

Financial​ ratios: Financial leverage.  The financial statements for Tyler​ Toys, Inc. are shown in the popup​ window:

. Calculate the debt​ ratio, times interest earned​ ratio, and cash coverage ratio for 2013 and 2014 for Tyler Toys. Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the​ shareholders?

What is the debt ratio for​ 2014?

​(Round to four decimal​ places.)

 Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 Revenue $14,146,478$13,566,975 Cost of goods sold $-8,448,686$-8,131,622 Selling, general, and administrative expenses $-998,694$-980,457 Depreciation $-1,498,330$-1,472,521 EBIT $3,200,768$2,982,375 Interest expense $-376,152$-355,309 Taxes $-1,073,354$-998,285 Net income $1,751,262$1,628,781

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 Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 ASSETS 2014 2013 LIABILITIES 2014 2013 Current assets Current liabilities Cash $190,708$186,813 Accounts payable $1,546,844$1,455,192 Investments $181,807$121,780 Short-term debt $312,968$332,542 Accounts receivable $668,453$630,045 Total current liabilities $1,859,812$1,787,734 Inventory $588,758$563,625 Long-term liabilities Total current assets $1,629,726$1,502,263 Debt $7,286,251$6,604,954 Long-term assets Other liabilities $1,463,940$1,345,233 Investments $3,054,756$2,828,724 Total liabilities $10,610,003$9,737,921 Plant, property, and equipment $8,497,392$8,481,502 OWNERS’ EQUITY Goodwill $347,579$347,255 Common stock $1,457,977$1,453,354 Intangible assets $1,158,990$956,315 Retained earnings $2,620,463$2,924,784 Total owners’ equity $4,078,440$4,378,138 TOTAL LIABILITIES TOTAL ASSETS $14,688,443$14,116,059 AND OWNERS’ EQUITY $14,688,443$14,116,059

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