Q.13

Melon, Inc. provides the following income statement for 209 : Calculate the times-interest-earned ratio

Melon, Inc. provides the following income statement for Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Loss on Sale of Capital Assets Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income Calculate the times-interest $240,000 110,000 $130,000 45,000 12,000 57,000 (26,000) (1000) (22,000) $46,000 5100 $40,900