Oak Corporation's financial statements for the current year showed the following: Note: Round your answers to 2 decimal places. Income Statement Revenues Expenses Interest expense Pretax income Income tax (21%) Net income $840,000 (628,000) (14,600) Times interest earned ratio 197,400 (41,454) $155,946 Compute Oak's times interest earned ratio. 13.52
Oak Corporation's financial statements for the current year showed the following: Note: Round your answers to 2 decimal places. Income Statement Revenues Expenses Interest expense Pretax income Income tax (21%) Net income $840,000 (628,000) (14,600) Times interest earned ratio 197,400 (41,454) $155,946 Compute Oak's times interest earned ratio. 13.52
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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![Oak Corporation's financial statements for the current year showed the following:
Note: Round your answers to 2 decimal places.
Income Statement
Revenues
Expenses
Interest expense
Pretax income
Income tax (21%)
Net income
$840,000
(628,000)
(14,600)
Times interest earned ratio
197,400
(41,454)
$155,946
Compute Oak's times interest earned ratio.
13.52](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fddf25628-746e-45f7-803c-7ad588b8682b%2F5b223e02-e1c2-4fb4-9297-615361391447%2Fgmvorp2_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Oak Corporation's financial statements for the current year showed the following:
Note: Round your answers to 2 decimal places.
Income Statement
Revenues
Expenses
Interest expense
Pretax income
Income tax (21%)
Net income
$840,000
(628,000)
(14,600)
Times interest earned ratio
197,400
(41,454)
$155,946
Compute Oak's times interest earned ratio.
13.52
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