For the most recent year, Camargo, Inc., had sales of $586,000, cost of goods sold of...

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For the most recent year, Camargo, Inc., had sales of $586,000, cost of goods sold of $253,510, depreciation expense of $66,900, and additions to retained earnings of $79,300. The firm currently has 26,500 shares of common stock outstanding and the previous year's dividends per share were $1.60. Assuming a 23 percent income tax rate, what was the times interest earned ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) For the most recent year, Camargo, Inc., had sales of $586,000, cost of goods sold of $253,510, depreciation expense of $66,900, and additions to retained earnings of $79,300. The firm currently has 26,500 shares of common stock outstanding and the previous year's dividends per share were $1.60. Assuming a 23 percent income tax rate, what was the times interest earned ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answer rating: 100% (QA)

To calculate the times interest earned ratio we first need to find the earnings before interest and ... View the full answer