On January 2 of the current year, a company purchased a patent for exist35,000 with a useful life of 10 years. Prepare the journal entry to amortize the patent at the end of the first year. A company's income before interest expenses and income taxes in 2010 is exist225,000 and exist200.000 in 2011. Its interest expense Calculate the company's times interest earned ratio for 2010 and 2011. 2010: 2011: Comment on its level of risk