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Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.:
WIPER INC. | |||||||||
Condensed Balance Sheets | |||||||||
December 31, 2020, 2019, 2018 | |||||||||
(in millions) | |||||||||
2020 | 2019 | 2018 | |||||||
Current assets | $ | 829 | $ | 1,071 | $ | 933 | |||
Other assets | 2,433 | 1,940 | 1,739 | ||||||
Total assets | $ | 3,262 | $ | 3,011 | $ | 2,672 | |||
Current liabilities | $ | 597 | $ | 850 | $ | 752 | |||
Long-term liabilities | 1,638 | 1,115 | 982 | ||||||
Stockholders equity | 1,027 | 1,046 | 938 | ||||||
Total liabilities and stockholders' equity | $ | 3,262 | $ | 3,011 | $ | 2,672 | |||
WIPER INC. | ||||||
Selected Income Statement and Other Data | ||||||
For the year Ended December 31, 2020 and 2019 | ||||||
(in millions) | ||||||
2020 | 2019 | |||||
Income statement data: | ||||||
Sales | $ | 3,070 | $ | 2,933 | ||
Operating income | 316 | 330 | ||||
Interest expense | 104 | 85 | ||||
Net income | 251 | 246 | ||||
Other data: | ||||||
Average number of common shares outstanding | 43.3 | 48.7 | ||||
Total dividends paid | $ | 70.0 | $ | 54.3 | ||
Calculate the times interest earned ratio for 2020?
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