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Melon, Inc. provides the following income statement for 20X9: Net Sales Cost of Goods Sold $240,000 110,000 $130,000 Gross Profit Operating Expenses: Selling Expenses 45,000
Melon, Inc. provides the following income statement for 20X9: Net Sales Cost of Goods Sold $240,000 110,000 $130,000 Gross Profit Operating Expenses: Selling Expenses 45,000 Administrative Expenses 12.000 Total Operating Expenses 57,000 Operating Income $73,000 Other Income and (Expenses): Loss on Sale of Capital Assets (28,000) Interest Expense (1000) Total Other Income and (Expenses) (29.000) Income Before Income Taxes $44,000 Income Tax Expense 5800 Net Income $38,200 Calculate the times-interest-earned ratio. Calculate the times-interest-earned ratio. O 44.00 times O45.00 times 73.00 times O38.20 times
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