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2. The following data came from the nancial statements of Petrini Company: Total assets $205,000 Total liabilities 95,000 Total stockholders equity 110,000 Net income 55,000

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2. The following data came from the nancial statements of Petrini Company: Total assets $205,000 Total liabilities 95,000 Total stockholders equity 110,000 Net income 55,000 Tax expense 4,000 Interest expense 500 Compute the times interest earned ratio (rounded to two decimal places) for Petrini Company a. 139 ti mes b. 129 ti mes c. 130 ti mes Times interest earned: ($65,000 + $4,000 d. 122 times $500)}IIr 500 = 139ti1l1E5

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