Answered: Year 3 Year 2 Year 1 $ 173,751 $…

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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Question

The following financial data (in thousands) were taken from recent financial statements of Staples, Inc.:

Please see the attachment for details:

1. Determine the times interest earned ratio for Staples in Year 3, Year 2, and Year 1? Round your answers to one decimal place.
2. Evaluate this ratio for Staples.

Year 3
Year 2
Year 1
$ 173,751 $ 214,824 $ 237,025
Interest expense
.....
Earnings before taxes
1,356,595
1,459,141
1,155,894

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