Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 20, 2024

MAGNET Inc. reports operating income of $780,000, interest expense of $231,000 and net income of $657,000. What is the times-interest-earned ratio? (Round your final answer

MAGNET Inc. reports operating income of $780,000, interest expense of $231,000 and net income of $657,000. What is the times-interest-earned ratio? (Round your final answer to two decimal places.) 0.53 0.30 2.84 3.38

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

Recommended Textbook for

Accounting

Authors: Michael J. Jones

2nd Edition

0470017791, 978-0470017791

More Books

Students explore these related Accounting questions

Question

Bill has just returned from a duck hunting trip. He has brought home eight ducks. Bills friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John has presented him...

Answered: 3 weeks ago

Question

A banks economics department has just forecast accelerated growth in the economy, with GDP expected to grow at a 4.5 percent annual growth rate for at least the next two years. What are the...

Answered: 3 weeks ago

Question

Can action regulation theory always adequately explain our behaviour at work? Explain why or why not.

Answered: 3 weeks ago

Question

Huber Company bottles and distributes No-FIZZ, a fruit drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 70 cents per bottle. For the year 2010,...

Answered: 3 weeks ago

Question

Prepare the statement of cash flows for the year ended 31 December 2021 for Fast DeliveryCompany using the indirect method. Place parentheses around those dollar amounts representing cash outlays....

Answered: 3 weeks ago

Question

Monica sees Rosss credit card bill and notices that he has a balance of $7,650. She wants to try and make Ross see that his credit card company is really imposing a huge drag on his wallet. She...

Answered: 3 weeks ago

Question

a. Draw a triangle similar to the one drawn opposite. (i) Measure the length of side AB and let this be the base of the triangle. (ii) Draw on your diagram a line which represents the height of the...

Answered: 3 weeks ago

Question

The following data show the education and employment status of women aged 2029 (from the 1991 General Household Survey): (a) Draw a bar chart of the numbers in work in each education category. Can...

Answered: 3 weeks ago

Question

In promiscuous species of mammals, such as deer mouse, the breeding success of males can be predicted from their testes size and the number of sperm they produce. Fisher et al. (2018) investigated...

Answered: 3 weeks ago

Question

Implicit in the stop-and-wait scenarios of Figure 2.14 is the notion that the receiver will retransmit its ACK immediately on receipt of the duplicate data frame. Suppose instead that the receiver...

Answered: 3 weeks ago

Question

The following information pertains to Bay Cabinet Company's sales on account and accounts receivable: After several collection attempts, Bay Cabinet Company wrote off $\$ 2,800$ of accounts that...

Answered: 3 weeks ago

Question

1. Arethere any legal implications to be aware of as a result of this selection decision? Sunrise Academy, a privately run technical college, has been operating now for four successful years....

Answered: 3 weeks ago

Question

8.1 Differentiate between onboarding and training.

Answered: 3 weeks ago

Question

8.3 Describe special considerations for onboarding.

Answered: 3 weeks ago

Previous Question Next Question