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Calculate the times interest earned ratio for LaTonya's Flop Shops, Inc. using the following information. Sales = $1.19 million, cost of goods sold = $624,500,
Calculate the times interest earned ratio for LaTonya's Flop Shops, Inc. using the following information. Sales = $1.19 million, cost of goods sold = $624,500, depreciation expense = $97,800, addition to retained earnings = $100,200, dividends per share = $1, tax rate = 30%, and number of shares of common stock outstanding = 59,800. LaTonaya's Flop Shops has no preferred stock outstanding. (Round your answer to 2 decimal places.)
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