Granny's Greens reported Interest expense of $5,700, Income tax expense of $28,000, and Net income of $88,000. Granny's interest coverage ratio is: (Round the final answer to two decimal places.) A. 0.05 B. 0.06 C. 21.35 D. 20.35
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- Merryweather Corporation reported net income of $150,000, income before taxes of$240,000 and interest expense of $32,000. What is the times-interest-earned ratio? (Roundyour final answer to two decimal places.)a. 4.69b. 5.69c. 7.50d. 8.50K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...Sunland's financial statements contained the following selected data (in millions). Current assets $3,618.0 Total assets 28,500.0 Current liabilities 5,400.0 Total liabilities 11,115.0 Interest expense $300.0 Income tax expense 1,170.0 Net income 1,332.0 Compute the following values. (Round current ratio and times interest earned to 2 decimal places, e.g. 6.25:1 or 2.66 and debt to assets ratio to O decimal places, e.g. 25%.) (a) Current ratio 0.67 :1 (b) Debt to assets ratio 39 % (c) Times interest earned 9.34 times
- Calculate the amount of property tax due: (Round your answer to the nearest cent.) Tax rate Assessed value Amount of property tax due $42.50 per $1,000 $ 105,000(b) Compute the avoidable interest on Flounder's new building. (Round intermediate percentage calculation to 1 decimal place, e.g. 15.6% and final answer to O decimal places, e.g. 5,125.) Avoidable Interest $Assume the following: Revenue = $1,500; COGS = $450; SGA = $300; EBIT = $600; Taxable income = $525; Net Income = $315. What is Taxes? 29% 8% 14% 40%
- Oak Corporation's financial statements for the current year showed the following: Note: Round your answers to 2 decimal places. Income Statement Revenues Expenses Interest expense Pretax income Income tax (21%) Net income $840,000 (628,000) (14,600) Times interest earned ratio 197,400 (41,454) $155,946 Compute Oak's times interest earned ratio. 13.52You are given the following information. What is your liquidity ratio? Annual disposable income: $45,000 Total liabilities: $17,400 Annual savings: $2,400 Long-term assets: $85,000 Current ratio: 2 Debt-to-asset ratio: 0.2 Select one: a. 0.90 b. 0.56 c. 0.89 d. 0.53The Snella Company reports 2023 Pre-tax Net Income of $10,000. The following items exist: Premiums Paid for Key Officer Life Insurance Accrued Revenues Unearned Revenues $ 200 $ 80 $ 50 The tax rate is 20%, Indicate the amounts for 2023 Income Tax Expense and 12/31/23 Income Tax Payable, respectively: Select one: a. $2,040, $2,034 b. $1,960, $1,934 Oc. $1,960, $1,986 d. $2,040, $1,986 e. $2,034, $2,034
- The interest accrued on $7,500 at 6% for 90 days is: (Use 360 days a year.) Multiple Choice $450.00. $37.50. $112.50. $11.25. $1,800.00.5. Bradkin's Toggery owns property with a fair market value of $209,200. Property in the area is assessed at 30% of fair market value with a tax rate of 3.65%. Find the annual tax. [13.1] 5Rosewood Company had current assets of $612, current liabilities of $393, total assets of $722. and long-term liabilities of $200. What is Rosewood's debt ratio? (Round your final answer to two decimal places.) 1.56 0.54 O0.82 0.28