Question
Vaughn Company reported the following on its income statement: Income before income taxes $590000 Income tax expense 170000 Net income $420000 An analysis of the
Vaughn Company reported the following on its income statement:
| Income before income taxes | $590000 |
| Income tax expense | 170000 |
| Net income | $420000 |
An analysis of the income statement revealed that interest expense was $50000. Vaughn Company's times interest earned was
|
| 11.80 times. |
|
| 12.80 times. |
|
| 8.40 times. |
|
| 9.40 times. |
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Ethical Obligations and Decision Making in Accounting Text and Cases
Authors: Steven Mintz, Roselyn Morris
4th edition
978-1259543470, 1259543471, 978-1259730191
