Compute the times interest earned for 2014. (a) 11.2 times. (b) 65.3 times. (c) 14.0 times. (d)
Question:
Compute the times interest earned for 2014.
(a) 11.2 times.
(b) 65.3 times.
(c) 14.0 times.
(d) 13.0 times.
Transcribed Image Text:
Inventory Current assets Total assets. Current liabilities Total liabilities Preferred stock 40,000 Common stockholders' equity 240,000 Net sales. Cost of goods sold Net income Tax expense 2014 $ 54,000 81,000 382,000 27,000 102,000 Interest expense Dividends paid to preferred stockholders Dividends paid to common stockholders 2013 $ 48,000 106,000 326,000 36,000 88,000 40,000 198,000 784,000 697,000 306,000 277,000 134,000 90,000 18,000 12,000 22,000 12,000 4,000 4,000 15,000 10,000
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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