C. Paxton Company provided the following income statement for last year: P 87,021,000 (62,138,249) P 24,882,751 (19,371,601) P 5,511,150 (875,400) P 4,635,750 (1,854,300) P 2.781.450 Sales Cost of Goods Sold Gross Margin Operating Expenses Operating Income Interest Expense Income Before Taxes Income Taxes Net Income Required: Calculate the times interest earned ratio. (Round your answer to one decimal place.

C. Paxton Company provided the following income statement for last year: P 87,021,000 (62,138,249) P 24,882,751 (19,371,601) P 5,511,150 (875,400) P 4,635,750 (1,854,300) P 2.781.450 Sales Cost of Goods Sold Gross Margin Operating Expenses Operating Income Interest Expense Income Before Taxes Income Taxes Net Income Required: Calculate the times interest earned ratio. (Round your answer to one decimal place.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 87PSB

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