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Deacon Corporation has provided the following financial data from its balance sheet and income statement: Year 2 Year 1 Total assets $ 1,254,000 $ 1,210,000
Deacon Corporation has provided the following financial data from its balance sheet and income statement:
| Year 2 | Year 1 | |||||
| Total assets | $ | 1,254,000 | $ | 1,210,000 | ||
| Total liabilities | $ | 494,000 | $ | 486,000 | ||
| Total stockholders' equity | $ | 760,000 | $ | 724,000 | ||
| Net operating income (income before interest and taxes) | $ | 70,097 | ||||
| Interest expense | $ | 36,000 | ||||
The companys times interest earned ratio for Year 2 is closest to:
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Management Accounting Principles And Applications
Authors: Hugh Coombs, D Ellis Jenkins, David Hobbs
1st Edition
1412908434, 978-1412908436
