Oak Corporation's financial statements for the current year showed the following: Income Statement Revenues..............................$800,000 Expenses..............................(620,000) Interest expense........................(12,600)

Question:

Oak Corporation's for the current year showed the following:
Income Statement
Revenues..............................$800,000
Expenses..............................(620,000)
Interest expense........................(12,600)
Pretax income..........................167,400
Income tax (30%).....................(50,220)
Net income...........................$117,180
Compute Oak's time's interest earned ratio.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...