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Salinas Limited Income Statement For the Year Ended December 31, 2012 Net Sales $240 Cost of Goods Sold 144 Gross Profit 96 Operating Expenses $
Salinas Limited Income Statement For the Year Ended December 31, 2012 Net Sales $240 Cost of Goods Sold 144 Gross Profit 96 Operating Expenses $ Salaries 44 6 50 Depreciation Income from Operations 46 8 Less: Interest Income before Income Taxes 38 18 Less: Income Taxes Net Income $ 20 Calculate times earned Ratio Group of answer choices 5.75 Times 6 Times 0.75 Times 8 Times
Salinas Limited
Income Statement
For the Year Ended December 31, 2012
Net Sales $240
Cost of Goods Sold 144
Gross Profit 96
Operating Expenses
$
Salaries
44
6 50
Depreciation
Income from Operations 46
8
Less: Interest
Income before Income Taxes 38
18
Less: Income Taxes
Net Income $
20
Calculate times earned Ratio
Group of answer choices
5.75 Times
6 Times
0.75 Times
8 Times
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