The following financial data (in thousands) were taken from recent financial statements of Office Depot, Inc.: Year 3 Year 1 $121,000 $80,000 158,000 459,000 Interest expense Earnings before taxes Year 2 $ 62,000 299,000 1. Determine the times interest earned ratio for Office Depot in Year 3, Year 2, and Year 1? Round to one decimal place. 2. Evaluate this ratio for Office Depot.

The following financial data (in thousands) were taken from recent financial statements of Office Depot, Inc.: Year 3 Year 1 $121,000 $80,000 158,000 459,000 Interest expense Earnings before taxes Year 2 $ 62,000 299,000 1. Determine the times interest earned ratio for Office Depot in Year 3, Year 2, and Year 1? Round to one decimal place. 2. Evaluate this ratio for Office Depot.

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Description: The following financial data (in thousands) were taken from recent financial statements of Office Depot, Inc.:Year 3Year 1$121,000$ 80,000158,000459,000Interest expenseEarnings before taxesYear 2$62,000299,0001. Determine the times interest earned r

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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