each have a loading factor value, namely the current ratio of 0.360, the quick ratio of 0.281, and
the cash ratio of 0.965. Based on the minimum value of convergent validity > 0.5, the indicators
included in the criteria are cash ratio (RK), (2) Activity Variable (X2) has four indicators, namely,
FATO (Fixed Assets Turn Over), RTO (Receivable Turn Over), TATO (Total Assets Turn Over),
WCTO (Working Capital Turn Over). The four indicators each have a loading factor value, namely
FATO (Fixed Assets Turn Over) of 0.520, RTO (Receivable Turn Over) of 0.749, TATO (Total
Assets Turn Over) of 0.052, WCTO (Working Capital Turn Over) is 0.590. Based on the minimum
value of convergent validity > 0.5, the indicators included in the criteria are FATO (Fixed Assets
Turn Over), RTO (Receivable Turn Over) and WCTO (Working Capital Turn Over), (3) Solvency
Variable (X3) has four indicators, namely, DAR (Debt to Asset Ratio), (Debt to Equity Ratio),
LTDER (Long Term Debt to Equity Ratio), TIE (Time Earned Interest). The four indicators each
have a loading factor value, namely DAR (Debt to Asset Ratio) of -0.266, DER (Debt to Equity
Ratio) of 0.185, LTDER (Long Term Debt to Equity Ratio) of 0.870, TIE (Time Earned Interest)
of -0.601. Based on the minimum value of convergent validity > 0.5, the indicators included in the
criteria are LTDER (Long Term Debt to Equity Ratio), (4) Based on the minimum value of
convergent validity > 0.5, the indicators included in the criteria are FATO (Fixed Assets Turn
Over), RTO (Receivable Turn Over) and WCTO (Working Capital Turn Over), (3) Solvency
Variable (X3) has four indicators, namely, DAR (Debt to Asset Ratio), (Debt to Equity Ratio),
LTDER (Long Term Debt to Equity Ratio), TIE (Time Earned Interest). The four indicators each
have a loading factor value, namely DAR (Debt to Asset Ratio) of -0.266, DER (Debt to Equity
Ratio) of 0.185, LTDER (Long Term Debt to Equity Ratio) of 0.870, TIE (Time Earned Interest)
of -0.601. Based on the minimum value of convergent validity > 0.5, the indicators included in the
criteria are LTDER (Long Term Debt to Equity Ratio), (4) Based on the minimum value of
convergent validity > 0.5, the indicators included in the criteria are FATO (Fixed Assets Turn
Over), RTO (Receivable Turn Over) and WCTO (Working Capital Turn Over), (3) Solvency
Variable (X3) has four indicators, namely, DAR (Debt to Asset Ratio), (Debt to Equity Ratio),
LTDER (Long Term Debt to Equity Ratio), TIE (Time Earned Interest). The four indicators each
have a loading factor value, namely DAR (Debt to Asset Ratio) of -0.266, DER (Debt to Equity
Ratio) of 0.185, LTDER (Long Term Debt to Equity Ratio) of 0.870, TIE (Time Earned Interest)
of -0.601. Based on the minimum value of convergent validity > 0.5, the indicators included in the
criteria are LTDER (Long Term Debt to Equity Ratio), (4) then the indicators included in the
criteria are FATO (Fixed Assets Turn Over), RTO (Receivable Turn Over) and WCTO (Working
Capital Turn Over), (3) Solvency Variable (X3) has four indicators, namely, DAR (Debt to Asset
Ratio) , (Debt to Equity Ratio), LTDER (Long Term Debt to Equity Ratio), TIE (Time Earned
Interest). The four indicators each have a loading factor value, namely DAR (Debt to Asset Ratio)
of -0.266, DER (Debt to Equity Ratio) of 0.185, LTDER (Long Term Debt to Equity Ratio) of
0.870, TIE (Time Earned Interest) of -0.601. Based on the minimum value of convergent validity
> 0.5, the indicators included in the criteria are LTDER (Long Term Debt to Equity Ratio), (4)
then the indicators included in the criteria are FATO (Fixed Assets Turn Over), RTO (Receivable
Turn Over) and WCTO (Working Capital Turn Over), (3) Solvency Variable (X3) has four