Question
Donaldson Company reported net income of $74,900 for 2014. The income statement also indicates that interest expense for 2014 was $11,000. Assuming an income tax
Donaldson Company reported net income of $74,900 for 2014. The income statement also indicates that interest expense for 2014 was $11,000. Assuming an income tax rate of 30%, how much is the times interest earned for 2014?
a.10.7 times
b.6.8 times
c.5.5 times
d.9.9 times
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Management and Cost Accounting
Authors: Colin Drury
10th edition
1473748873, 9781473748910 , 1473748917, 978-1473748873
