Question
For the fiscal year ended December 31, 2019, Austin Enterprises had Sales of $9,067,000; EBIT of $2,197,000; Net Income Before Tax of $1,906,000; Net Income
For the fiscal year ended December 31, 2019, Austin Enterprises had Sales of $9,067,000; EBIT of $2,197,000; Net Income Before Tax of $1,906,000; Net Income After Tax of $1,258,000; and Interest Expense of $291,000. What was the Times-Interest-Earned ratio for 2019?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Global Business Today
Authors: Charles Hill
7th Edition
0078137217, 9780078137211
