Oak Corporations financial statements for the current year showed the following: Compute Oaks times interest earned ratio.
Question:
Oak Corporation’s financial statements for the current year showed the following:
Compute Oak’s times interest earned ratio.
Transcribed Image Text:
Revenues Expenses Interest expense Pretax income Income tax (21%) Net income Income Statement $800,000 (620,000) (12,600) 167,400 (35,154) $132,246
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Related Book For
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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