Garnet Company reported the following on its income statement Income before income taxes $450,000 Income tax expense 52,000 Net income $398,000 An analysis of the income statement revealed that interest expense was $50,000 Garnet Company 's times interest earned are earned was a 10 times b 8 1 time...

1 Earning before interest and taxes balance 450000 50000 500000 2 Less ...

Garnet Company reported the following on its income statement: Income before income taxes $450,000 Income tax expense

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Garnet Company reported the following on its income statement:

Income before income taxes	$450,000
Income tax expense	52,000
Net income	$398,000

An analysis of the income statement revealed that interest expense was $50,000. Garnet Company's times interest earned are earned was:

a.10 times.

b.8.1 times.

c.7.8 times.

d.11 times.

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Financial Accounting An Integrated Statements Approach

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Garnet Company reported the following on its income statement: Income before income taxes $450,000 Income tax expense

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