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For the most recent year, Shirlee, Inc. has sales of $400,000, cost of goods sold of $193,000, depreciation expense of $47,000, and additions to retained
For the most recent year, Shirlee, Inc. has sales of $400,000, cost of goods sold of $193,000, depreciation expense of $47,000, and additions to retained earnings of $60,000. The firm currently has 20,000 shares outstanding and the years dividends were $1.60 per share. Assuming a 35% income tax rate, what was the times interest earned ratio?
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