Question - Husain, Inc.'s income statement and other financial information for the current year is presented below. Hussain, Inc.Income StatementFor the year ended December 31
Sales revenue$249,131 Cost of goods sold 82,360
Gross profit 166,771 Selling, general & administrative expenses 15,885
Operating income 150,886 Interest expense 5,547
Income before taxes 145,339 Income tax expense 5,214
Net income$140,125
Balance sheet information:
Current assets $259,000
Noncurrent assets 518,000
Current liabilities 68,000
Long-term debt 136,000
Using the above information:
a. Perform vertical analysis of the income statement.
b. Calculate the debt-to-assets ratio.
c. Calculate the times interest earned ratio.