For 2019, Corn Flake Corporation reported net income of $300,000. Interest expense was $40,000 and income taxes
Question:
For 2019, Corn Flake Corporation reported net income of $300,000. Interest expense was $40,000 and income taxes were $100,000. The times interest earned was:
(a) 3 times.
(b) 4.4 times.
(c) 7.5 times.
(d) 11 times.
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Related Book For
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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