QUESTION 12 Westbrook Financial Services, Inc. invested $15,000 to acquire 7500 shares of Cloud Investments, Inc. on March 15, 2015. This investment represents less than 20% of the investee's voting stock. On May 7, 2018, Westbrook Financial Services, Inc. sells 2250 shares for $12,250. Which of the following will be included in the journal entry for the May 7, 2018 transaction? a $7,750 credit to Gain on Disposal a $8,750 credit to Equity Investments a $8,750 credit to Gain on Disposal a $7,750 debit to Loss on Disposal. QUESTION 13 The information related to interest expense of Classic Music, Inc. is given below: Net income $264,000 Income tax expense 107,000 Interest expense 66,000 Based on the above data, which of the following is the times-interest-earned ratio? (Round the final answer to two decimal places.) 6.62 times 5 times 4.08 times 4 times