In the most recent fiscal year, Murray Industries reported net income of $360,000, interest expense of $80,000, and income tax expense of $120,000. What was Murray Industries' times interest earned ratio for the year? a) 4.50 b) 7.00 c) 5.75 d) 6.00

In the most recent fiscal year, Murray Industries reported net income of $360,000, interest expense of $80,000, and income tax expense of $120,000. What was Murray Industries' times interest earned ratio for the year? a) 4.50 b) 7.00 c) 5.75 d) 6.00

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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In the most recent fiscal year, Murray Industries reported net income
of $360,000, interest expense of $80,000, and income tax expense of
$120,000. What was Murray Industries' times interest earned ratio for
the year?
a) 4.50
b) 7.00
c) 5.75
d) 6.00

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