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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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