Deacon Corporation has provided the following financial data from its balance sheet and income statement:...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Deacon Corporation has provided the following financial data from its balance sheet and income statement:
| Year 2 | Year 1 | |||||
| Total assets | $ | 1,254,000 | $ | 1,210,000 | ||
| Total liabilities | $ | 494,000 | $ | 486,000 | ||
| Total stockholders' equity | $ | 760,000 | $ | 724,000 | ||
| Net operating income (income before interest and taxes) | $ | 70,097 | ||||
| Interest expense | $ | 36,000 | ||||
The companys times interest earned ratio for Year 2 is closest to:
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.