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The following information was obtained from Quayle Companys income statement: Income before Interest and Income Tax Expense $696,000 Interest Expense 80,500 Income before Income Tax
The following information was obtained from Quayle Companys income statement:
Income before Interest and Income Tax Expense | $696,000 |
Interest Expense | 80,500 |
Income before Income Tax Expense | 615,500 |
Income Tax Expense | 230,000 |
Net Income | $385,500
|
What is the times interest earned ratio?
a. 4.79
b. 7.65
c. 8.65
d. 1.81
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