During 2019, Patty's Pizza reported net income of $4,612 million, interest expense of $171 million and income tax expense of $1,572 million. During 2018, Patty's reported net income of $3,968 million, interest expense of $167 million and income tax expense of $1,624 million. The times interest earned ratios for 2019 and 2018, respectively, are closest to: Multiple Choice O 34.49 and 37.16 times. 35.16 and 32.49 times. 36.16 and 33.49 times. 37.16 and 34.49 times.

During 2019, Patty's Pizza reported net income of $4,612 million, interest expense of $171 million and income tax expense of $1,572 million. During 2018, Patty's reported net income of $3,968 million, interest expense of $167 million and income tax expense of $1,624 million. The times interest earned ratios for 2019 and 2018, respectively, are closest to: Multiple Choice O 34.49 and 37.16 times. 35.16 and 32.49 times. 36.16 and 33.49 times. 37.16 and 34.49 times.

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 54CE

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