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Refer to the following selected financial information from Gomez Electronics. Compute the company's times interest earned for Year 2. Net sales Cost of goods
Refer to the following selected financial information from Gomez Electronics. Compute the company's times interest earned for Year 2. Net sales Cost of goods sold Year 2 Year 1 $ 426,550 $ 480,000 276,600 250,420 Interest expense 10,000 11,000 Net income before tax 67,550 52,980 Net income after tax 46,350 40,200 Total assets: Total liabilities. Total equity 317,700 289,800 179,900 167,600 137,800 122,200
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