Hale Electronics reported the following amounts on its 2013 income statement: Year Ended December 31, 2013 Net
Question:
Year Ended December 31, 2013
Net income ............ $ 48,400
Income tax expense ........ 7,260
Interest expense ........... 4,000
What is Hale’s times-interest-earned ratio for 2013? (Round the answer to two decimals.)
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Related Book For 
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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