Pleasd answer in excel form Problem #3 (Adapted)An examination of Echo Company's records revealed the followinginformation:ProfitP140,000Interest expense50,000Average total800,000assets300,000Average totalliabilitiesIncome tax rate30%Echo issued only one class of stock.Required:A.Times interest earnedВ.Return on assetsС.Return on equity

Times Interest Earned = EBIT/Interest Expense Return on Assets = Net Income/ Total Assets Return on…

Problem #3 (Adapted) An examination of Echo Company's records revealed the following information: Profit P140,000 Interest expense 50,000 Average total 800,000 assets Average total liabilities 300,000 Income tax rate 30% Echo issued only one class of stock. Required: A. Times interest earned B. Return on assets С. Return on equity

Problem #3 (Adapted) An examination of Echo Company's records revealed the following information: Profit P140,000 Interest expense 50,000 Average total 800,000 assets Average total liabilities 300,000 Income tax rate 30% Echo issued only one class of stock. Required: A. Times interest earned B. Return on assets С. Return on equity

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 10CDQ: Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total...

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