28 A company's income statement reveals the following amounts related to the company's operations for the most recent year: • Net sales revenue: $5,000,000 • Interest expense: $60,000 • Income tax expense: $80,000 • Net income: $400,000 What was the company's times-interest-earned ratio for the year? 4.33 O 6.75 O 7.67 9.00 NEXT. BOOKMARK
28 A company's income statement reveals the following amounts related to the company's operations for the most recent year: • Net sales revenue: $5,000,000 • Interest expense: $60,000 • Income tax expense: $80,000 • Net income: $400,000 What was the company's times-interest-earned ratio for the year? 4.33 O 6.75 O 7.67 9.00 NEXT. BOOKMARK
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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Question
![28
A company's income statement reveals the following amounts related to the company's operations for the most recent year:
• Net sales revenue: $5,000,000
• Interest expense: $60,000
• Income tax expense: $80,000
• Net income: $400,000
What was the company's times-interest-earned ratio for the year?
4.33
O 6.75
O 7.67
9.00
NEXT.
BOOKMARK](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8601a5e8-32a7-4f23-aaf2-baeb428886a1%2F600d0b37-2665-434e-b115-a18d124462bf%2F1lcvf1k_processed.png&w=3840&q=75)
Transcribed Image Text:28
A company's income statement reveals the following amounts related to the company's operations for the most recent year:
• Net sales revenue: $5,000,000
• Interest expense: $60,000
• Income tax expense: $80,000
• Net income: $400,000
What was the company's times-interest-earned ratio for the year?
4.33
O 6.75
O 7.67
9.00
NEXT.
BOOKMARK
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