Refer to the information provided in TR22-1 and in TR22-2. Data From TR 22-1 Riyers Inc. has

Question:

Refer to the information provided in TR22-1 and in TR22-2.

Data From TR 22-1

Riyers Inc. has the following selected information for its years ended June 30:

Required:
Calculate the times-interest-earned and the long-term debt-to-total capitalization ratios for 20X1, 20X2, and 20X3. Comment on what the ratios reveal.

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Intermediate Accounting Volume 2

ISBN: 9781260881240

8th Edition

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel

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Question Posted: Apr 08, 2023 06:34 AM

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Refer to the information provided in TR22-1 and in TR22-2. Data From TR 22-1 Riyers Inc. has

Question:

Gross sales Gross profit Interest expense Income taxes (at 28%) Net earnings 20X3 $567,800 $359,700 $ 66,000 $ 56,000 $217,000 20X2 $650,700 $422,950 $ 75,000 $ 45,000 $160,600 20X1 $589,200 $389,460 $ 90,000 $ 35,000 $ 127,100

Step by Step Answer:

Times interest earned 20X3 217000 56000 66000 66000 33900066000 51 times 20X2 160600450...View the full answer

Intermediate Accounting Volume 2

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