Balance sheet and income statement data indicate the following Bonds payable, 796 (due in 15 years) $1,112,159 Preferred 8% stock, $100 par (no change during the year) S200,000 Common stock, $50 par (no change during the year) $1,000,000 Income before income tax for year S329,532 Income tax for year $98,860 Common dividends paid $60,000 Preferred dividends paid $16,000 Based on the data presented above, what is the times interest earned ratio (round to two decimal places)? oa. 4.23 ob. 1.96 Oc. 2.96 od. 5.23 Franklin Corporation issues $98,000, 10%, five-year bonds on January 1 for $102,400. Interest is paid semiannually on January 1 and July 1. If Franklin uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1 is oa. $3,920 ob. $4,460 CC, $7,840 od. $4,360