The income statement for Vermont Communications follows. Assume Vermont Communications signed a three-month, 3%, $6,000 note on

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The income statement for Vermont Communications follows. Assume Vermont Communications signed a three-month, 3%, $6,000 note on June 1, 2024, and that this was the only note payable for the company.image text in transcribed


Requirements

1. Fill in the missing information for Vermont’s year ended July 31, 2024, income statement. Round to the nearest dollar.
2. Compute the times-interest-earned ratio for the company. Round to two decimals.

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Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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