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Refer to the following selected financial information from Gomez Electronics. Compute the companys times interest earned for Year 2. Year 2 Year 1 Net sales
Refer to the following selected financial information from Gomez Electronics. Compute the companys times interest earned for Year 2.
Year 2 | Year 1 | |
---|---|---|
Net sales | $ 480,500 | $ 426,650 |
Cost of goods sold | 276,700 | 250,520 |
Interest expense | 10,100 | 11,100 |
Net income before tax | 67,650 | 53,080 |
Net income after tax | 46,450 | 40,300 |
Total assets | 317,900 | 290,400 |
Total liabilities | 179,400 | 167,700 |
Total equity | 138,500 | 122,700 |
Multiple Choice
5.6.
4.6.
13.7.
6.7.
7.7.
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