Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two...
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Accounting
Balance sheet and income statement data indicate the following:
Bonds payable, 10% (due in two years) $877,000
Preferred 5% stock, $100 par (no change during year) 258,100
Common stock, $50 par (no change during year) 1,861,700
Income before income tax for year 302,813
Income tax for year 82,869
Common dividends paid 93,085
Preferred dividends paid 12,905
Interest expense 87,700
Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places.
A 2.90
B 2.45
C4.45
D0.35
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