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For the most recent year, Camargo, Inc., had sales of $562,000, cost of goods sold of $248,050, depreciation expense of $63,900, and additions of retained earnings of $76,300. The firm currently has 23,500 shares of common stock outstanding and the previous year's dividends per share were $1.45.   Assuming a 22% income tax rate, what was the times interest earned ratio

For the most recent year, Camargo, Inc., had sales of $562,000, cost of goods sold of $248,050, depreciation expense of $63,900, and additions of retained earnings of $76,300. The firm currently has 23,500 shares of common stock outstanding and the previous year's dividends per share were $1.45.   Assuming a 22% income tax rate, what was the times interest earned ratio

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 20E: Five measures of solvency or profitability The balance sheet for Garcon Inc. at the end of the...
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For the most recent year, Camargo, Inc., had sales of $562,000, cost of goods sold of $248,050, depreciation expense of $63,900, and additions of retained earnings of $76,300. The firm currently has 23,500 shares of common stock outstanding and the previous year's dividends per share were $1.45.

 

Assuming a 22% income tax rate, what was the times interest earned ratio? (DO NOT round intermediate calculations and round your answer 10 2 decimal places, e.g., 32016

Times interest earned: ? times 

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