Question

The income statement for Utah Communications follows. Assume Utah Communications signed a 120-day, 12%, $4,000 note on June 1, 2016, and that this was the only note payable for the company.
Requirements
1. Fill in the missing information for Utah’s year ended July 31, 2016, income statement.
2. Compute the times-interest-earned ratio for the company.


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  • CreatedJune 15, 2015
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