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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 $ 1,243,000 $ 1,200,000
Deacon Corporation has provided the following financial data from its balance sheet and income statement:
| Year 2 | Year 1 | |||||
| Total assets | $ | 1,243,000 | $ | 1,200,000 | ||
| Total liabilities | $ | 488,000 | $ | 481,000 | ||
| Total stockholders' equity | $ | 755,000 | $ | 719,000 | ||
| Net operating income (income before interest and taxes) | $ | 69,612 | ||||
| Interest expense | $ | 33,000 | ||||
The company's times interest earned ratio for Year 2 is closest to:
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Quicken 2015 For Dummies
Authors: Stephen L. Nelson
1st Edition
1118920139, 978-1118920138
