Question
A company has liquid assets of $20 million and net income of $10 million. Current liabilities total $10 million, interest expense is $10 million, and
A company has liquid assets of $20 million and net income of $10 million. Current liabilities total $10 million, interest expense is $10 million, and income tax expense is $5 million. The times interest earned ratio for this company is?
a. 5.0
b. 4.0
c. 0.2
d. 0.25
Please explain in deatil
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Contemporary Auditing University Of Southern Indiano
Authors: Michael C. Knapp
7th Edition
0324658052, 978-0324658057
