The condensed balance sheet and income statement for Marjoram Company are presented below.
-Compute the times interest earned ratio for Marjoram Company. Round your answer to two decimal places.
Definitions:
Corporation
A legal entity recognized by law as separate from its owners, with its own rights and responsibilities.
Close Corporations
A type of business structure where the number of shareholders is limited, and stock is not publicly traded, often managed in a hands-on manner by its owners.
Fiduciaries
Individuals, organizations, or entities that hold a position of trust and are required to act in the best interest of another party, such as a trustee or financial advisor.
Shareholders
Individuals or entities that own shares in a corporation, thereby having a financial interest in its performance and governance.
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