Homework Help is Here – Start Your Trial Now!
Business
Accounting
In a recent year, Pina Colada Corp. had a net income of $151,000, interest expense of $28,500, and income tax expense of $41,300. What was Pina Colada Corp.'s times interest earned (rounded) for the year? a. 6.30 b. 5.30 c. 6.75 d. 7.75

In a recent year, Pina Colada Corp. had a net income of $151,000, interest expense of $28,500, and income tax expense of $41,300. What was Pina Colada Corp.'s times interest earned (rounded) for the year? a. 6.30 b. 5.30 c. 6.75 d. 7.75

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

get correct option

In a recent year, Pina Colada Corp. had a net income of $151,000, interest expense of $28,500, and income tax expense of $41,300. What was Pina Colada Corp.'s times interest earned (rounded) for the year? a. 6.30 b. 5.30 c. 6.75 d. 7.75
Transcribed Image Text:In a recent year, Pina Colada Corp. had a net income of $151,000, interest expense of $28,500, and income tax expense of $41,300. What was Pina Colada Corp.'s times interest earned (rounded) for the year? a. 6.30 b. 5.30 c. 6.75 d. 7.75
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS