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Question 30 3.03 pts The formula for determining the number of times interest charges earned is Income before Income Tax Interest Expense/Interest expense. Assume that
Question 30 3.03 pts The formula for determining the number of times interest charges earned is Income before Income Tax Interest Expense/Interest expense. Assume that the Interest Expense for Shine, Inc. for the Year Ended December 31, 2011, is $25,000. Assume further that Income before Income Taxes is $395,000, Income Taxes is $150,000 and Net Income is $245,000. What is the number of times interest charges are earned for Shine, Inc. for the Year Ended December 31, 2011? 9.8 O 10.8 O16.8 O $25,000
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