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Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in 2 years) $967,000 Preferred 5% stock, $100 par (no change during 262,400 year) Common stock, $50 par (no change during year) 1,587,100 Income before income tax expense 372,965 Income tax expense Common dividends paid Preferred dividends paid Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places. O a. 2.86 73,525 79,355 13,120 b. 0.39 ○ c. 4.86 O d. 2.59

Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in 2 years) $967,000 Preferred 5% stock, $100 par (no change during 262,400 year) Common stock, $50 par (no change during year) 1,587,100 Income before income tax expense 372,965 Income tax expense Common dividends paid Preferred dividends paid Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places. O a. 2.86 73,525 79,355 13,120 b. 0.39 ○ c. 4.86 O d. 2.59

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in 2 years) $967,000 Preferred 5% stock, $100 par (no change during 262,400 year) Common stock, $50 par (no change during year) 1,587,100 Income before income tax expense 372,965 Income tax expense Common dividends paid Preferred dividends paid Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places. O a. 2.86 73,525 79,355 13,120 b. 0.39 ○ c. 4.86 O d. 2.59
Transcribed Image Text:Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in 2 years) $967,000 Preferred 5% stock, $100 par (no change during 262,400 year) Common stock, $50 par (no change during year) 1,587,100 Income before income tax expense 372,965 Income tax expense Common dividends paid Preferred dividends paid Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places. O a. 2.86 73,525 79,355 13,120 b. 0.39 ○ c. 4.86 O d. 2.59
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