The following financial data (in thousands) were taken from recent financial statements of Office Depot, Inc.: 1.

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

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

2. Evaluate this ratio for Office Depot.

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 12, 2021 05:10 AM

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The following financial data (in thousands) were taken from recent financial statements of Office Depot, Inc.: 1.

Question:

Year 3 Year 2 Year 1 Interest expense.... $121,000 $ 62,000 $ 80,000 Earnings before taxes. 158,000 299,000 459,000

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