Question
The following amounts were taken from the financial statements of Windsor, Inc.: 2022 2021 Current liabilities $1286000 $1235000 Long-term liabilities 1825000 1620000 Interest expense 100000
The following amounts were taken from the financial statements of Windsor, Inc.:
| 2022 | 2021 | |
|---|---|---|
| Current liabilities | $1286000 | $1235000 |
| Long-term liabilities | 1825000 | 1620000 |
| Interest expense | 100000 | 52400 |
| Income tax expense | 53900 | 35500 |
| Net income | 316100 | 171000 |
| Net cash provided by operating activity | 331000 | 288000 |
The times interest earned for 2022 is
4.7 times.
3.2 times.
4.2 times.
3.7 times.
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Management Accounting
Authors: Leslie G. Eldenburg, Albie Brooks, Judy Oliver, Gillian Vesty, Susan Wolcott
2nd Edition
1742166148, 978-1742166148
