Oak Corporation's financial statements for the current year showed the following: Note: Round your answers to 2 decimal places. Income Statement Revenues Expenses Interest expense Pretax income Income tax (21%) Net income $840,000 (628,000) (14,600) Times interest earned ratio 197,400 (41,454) $155,946 Compute Oak's times interest earned ratio. 13.52

Oak Corporation's financial statements for the current year showed the following: Note: Round your answers to 2 decimal places. Income Statement Revenues Expenses Interest expense Pretax income Income tax (21%) Net income $840,000 (628,000) (14,600) Times interest earned ratio 197,400 (41,454) $155,946 Compute Oak's times interest earned ratio. 13.52

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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