Balance sheet and income statement data indicate the following: Bonds payable, 8% (due in 15 years) $1,425,545 Income before income tax for year 301,376 Income tax for year 90,413 Interest payable 33,000 Interest receivable 19,000 Interest expense 114,044 Based on the data presented above, what is the times interest earned ratio? (Round to two decimal places.) а. 3.64 Оb. 185 Oc. 0.85 Od. 2.64

Balance sheet and income statement data indicate the following: Bonds payable, 8% (due in 15 years) $1,425,545 Income before income tax for year 301,376 Income tax for year 90,413 Interest payable 33,000 Interest receivable 19,000 Interest expense 114,044 Based on the data presented above, what is the times interest earned ratio? (Round to two decimal places.) а. 3.64 Оb. 185 Oc. 0.85 Od. 2.64

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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