Frank's Boat Shop,Inc.reports operating income of $80,000 and interest expense of $15,000.The average number of shares of common stock outstanding during the year was 30,000 shares.What is the times-interest-earned ratio? (Round your final answer to two decimal places. )
A) 3.87
B) 6.33
C) 5.33
D) 10.20
Correct Answer:
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