Stover Corporation reports the following amounts in their 2014 financial statements: 
Instructions
(a) Compute the December 31, 2014, amount of equity.
(b) Compute the debt to total assets ratio at December 31, 2014.
(c) Compute times interest earned for 2014.
Definitions:
Uniform Commercial Code
A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize the law in all 50 states.
Shelter Principle
A legal rule in property law that protects the rights of a subsequent purchaser if the initial transfer to the seller was valid.
Status
The legal condition or position of an individual or entity in relation to others or the law.
Good Faith
An expectation for parties to act honestly and not mislead or deceive each other in a contract.
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