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The Fortune Company reported the following Income for Year 2 Sales Cost of goods sold Gross margin Selling and administrative expense Operating income Interest expense
The Fortune Company reported the following Income for Year 2 Sales Cost of goods sold Gross margin Selling and administrative expense Operating income Interest expense Income before taxes Income tax expense Net income $145,000 87,500 $ 57,500 30,000 $ 27,500 6,500 $ 21,000 6,380 $ 14,700 What is the company's number of times Interest is earned ratio? Multiple Choice 3.2 times 4.2 times 2.3 times None of these answers is correct
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