The balance sheet for Altoid Co. is shown below. ALTOID CO. Balance Sheet At December 31, 2021 Assets: Cash $ 200 Short-term investments 450 Accounts receivable (net) 550 Inventory 700 Property, plant, and equipment (net) 1,200 Total assets $ 3,100 Liabilities and shareholders' equity: Current liabilities $ 700 Long-term liabilities 850 Common stock 400 Retained earnings 1,150 Total liabilities and shareholders' equity $ 3,100 Selected 2021 income statement information for Altoid Co. includes: Net Sales $ 8,200 Operating expenses 7,290 Income before interest and tax 910 Interest expense 110 Income tax expense 240 Net income $ 560 Required: Compute the following financial statement ratios for 2021: Altoid Co.'s debt to equity ratio. (Round your answer to 2 decimal places.)

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."