the following data were taken from the financial statements of weal construction inc 560468

The following data were taken from the financial statements of Weal Construction Inc. for December 31, 2014 and 2013:

Dec. 31, 2014 Dec. 31, 2013
Accounts payable $666,000 $199,000
Current maturities of serial bonds payable 440,000 440,000
Serial bonds payable, 10%, issued 2009, due 2019 1,840,000 2,280,000
Common stock, $1 par value 100,000 130,000
Paid in capital in excess of par 1,080,000 1,080,000
Retained earnings 3,730,000 2,960,000

The income before income tax was $843,600 and $738,200 for the years 2014 and 2013, respectively.

a.Determine the ratio of liabilities to stockholders’ equity at the end of each year. Round to one decimal place.

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