The following data come from the financial records of Miho Corporation for 2014. Sales ............ $1,600,000 Interest

Question:

The following data come from the financial records of Miho for 2014.
Sales ............ $1,600,000
Interest expense ....... 45,000
Income tax ......... 180,000
Net income ......... 495,000

Required
How many times was interest earned in 2014?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...