The following data were taken from the financial records of Glum Corporation for 2014: Sales .......... $3,600,000

Question:

The following data were taken from the financial records of Glum for 2014:
Sales .......... $3,600,000
Bond interest expense ..... 120,000
Income taxes ........ 600,000
Net income .......... 800,000

Required:
How many times was bond 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...