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Country Company reported the following on its income statement: Income before income taxes $850,000 Income tax expense 250,000 Net income $650,000 An analysis of the
Country Company reported the following on its income statement:
| Income before income taxes | $850,000 |
| Income tax expense | 250,000 |
| Net income | $650,000 |
An analysis of the income statement revealed that interest expense was $100,000. Country Company's times interest earned was
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Auditing
Authors: David Ricchiute
8th Edition
0324226292, 978-0324226294
