Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A companys assets consist of $15,775 of cash, $45,865 of accounts receivable, $87,234 of inventory, and $89,556 of plant and equipment. Its liabilities consist of

A companys assets consist of $15,775 of cash, $45,865 of accounts receivable, $87,234 of inventory, and $89,556 of plant and equipment. Its liabilities consist of $23,667 of accounts payable, $12,667 of accruals, and $66,191 of long-term debt. The companys annual sales are $357,445, it paid $8,605 of interest, its earnings before taxes are $37,863, and its net income is $24,611. What is the companys times interest earned? Question 6 options: A) 4.9 B) 5.4 C) 3.8 D) 2.8 E) 3.4

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Essential Credit Repair Handbook

Authors: Deborah McNaughton

1st Edition

160163160X, 978-1601631602

More Books

Students also viewed these Finance questions

Question

6. identify techniques for raising arousal for competition.

Answered: 1 week ago