The Fortune Company reported the following income for Year 2: Sales $143,000 Cost of goods sold 86,500
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The Fortune Company reported the following income for Year 2: Sales $143,000 Cost of goods sold 86,500 Gross margin $56,500 Selling and administrative expense 28,000 Operating income $28,500 Interest expense 6,300 Income before taxes $22,200 Income tax expense 6,660 Net income $15,540 What is the company's number of times interest is earned ratio?
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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