Question
McDaniel and Associates reported the following amounts on its 2025 income statement: Year Ended December 31, 2025 Net income $130,500 Income tax expense 22,000 Interest
McDaniel and Associates reported the following amounts on its 2025 income statement:
| Year Ended December 31, 2025 | |
| Net income | $130,500 |
| Income tax expense | 22,000 |
| Interest expense | 10,000 |
What was McDaniel and Associates' times-interest-earned ratio for 2025?
A.14.05
B.15.25
C.13.05
D.16.25
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
