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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 $ 1,212,000 $ 1,176,000
Deacon Corporation has provided the following financial data from its balance sheet and income statement: Year 2 Year 1 Total assets $ 1,212,000 $ 1,176,000 Total liabilities $ 472,000 $ 469,000 Total stockholders' equity $ 740,000 $ 707,000 Net operating income (income before interest and taxes) $ 68,448 Interest expense $ 22,000 The companys times interest earned ratio for Year 2 is closest to: Multiple Choice 0.66 2.11 4.11 3.11
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