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Use Southgate Inc.'s financial statements to compute the times interest earned ratio, and indicate whether the change from year to years toustle or unfavourable
Use Southgate Inc.'s financial statements to compute the times interest earned ratio, and indicate whether the change from year to years toustle or unfavourable For your analy assume that all other things have remained constant. Apply your analysis in very general terms All values should be accurate to at least two decimal places. Sales Southgate Vic Income Statement For Years Ended December 31, 2023, 2022, and 2021 Cost of goods sold Gross profit from sales Operating expenses Income from operations Interest expense Income before taxes: Income taxes Net income 2021 2023 2022 $1,823,600 $1,533,400 $1,397,000 560,400 633,900 691,000 1.263,200 899.500 705,400 213,700 187,400 218,000. 1,049,500 712,100 486,800 789,100 574,500 398,500 260,400 137,600 89,300 58,200 29,100 19,400 $68,900 $202,200 $108,500
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