Knowledge Check 02\ Express Company reported sales of

$770,000

. Interest expense for the year amounted to

$10,800

; income tax expense,

$33,000

; and selling and administrative expense,

$14,000

. The company reported net income after taxes of

$42,000

. What was the company's the times interest earned ratio?\ 6.94\ 2.60\ 7.94\ 9.24\ Knowledge Check 03\ Cartel Company's financial statements reported total liabilities and stockholders' equity of

$1,400,000

; total liabilities of

$750,000

; total current assets of

$680,000

; and total property, plant, and equipment of

$720,000

. What was the company's debt-equity ratio?\ 1.15\ 0.54\ 2.15\ 0.87

Knowledge Check 02 Express Company reported sales of $770,000. Interest expense for the year amounted to $10,800; income tax expense, $33,000; and selling and administrative expense, $14,000. The company reported net income after taxes of $42,000. What was the company's the times interest earned ratio? 6.94 2.60 7.94 9.24 Knowledge Check 03 Cartel Company's financial statements reported total liabilities and stockholders' equity of $1,400,000; total liabilities of $750,000; total current assets of $680,000; and total property, plant, and equipment of $720,000. What was the company's debt-equity ratio? 1.15 0.54 2.15 0.87