In a recent year, Land O’ Lakes, Inc., reported (in millions) Income from Operations of $206, Net Income of$160, Interest Expense of $63, and Income Tax Expenseof $15. What was this dairy company’s times interestearned ratio (rounded) for the year?a. 1.49b. 2.53c. 3.27d. 3.78

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
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In a recent year, Land O’ Lakes, Inc., reported (in millions) Income from Operations of $206, Net Income of
$160, Interest Expense of $63, and Income Tax Expense
of $15. What was this dairy company’s times interest
earned ratio (rounded) for the year?
a. 1.49
b. 2.53
c. 3.27
d. 3.78

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