The income statement for Wyoming Communications follows. Assume Wyoming Communications signed a 120-day, 4%, $ 6,000 note on June 1, 2015, and that this was the only note payable for the company.

Requirements
1. Fill in the missing information for Wyoming’s year ended July 31, 2015, income statement.
2. Compute the times-interest-earned ratio for thecompany.

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WYOMING COMMUNICATIONS Income Statement Year Ended July 31, 2015 Sales Revenue $ 48,000 8,640 5,760 Less: Sales Returns and Allowances Sales Discounts Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: 33,600 21,600 12,000 Selling Expenses Administrative Expenses Total Expenses 1,200 3,000 4,200 7,800 Operating Income Other Revenues and (Expenses Interest Expense Total Other Revenues and (Expenses) Net Income befcre Income Tax Expense Income Tax Expense Net Income 1,550