In the most recent fiscal year, Tanaka Industries reported a net income of $240,000, interest expense of $48,000, and income tax expense of $72,000. What was Tanaka Industries' times interest earned ratio for the year? a) 5.00 b) 6.50 c) 7.50 d) 8.25

In the most recent fiscal year, Tanaka Industries reported a net income of $240,000, interest expense of $48,000, and income tax expense of $72,000. What was Tanaka Industries' times interest earned ratio for the year? a) 5.00 b) 6.50 c) 7.50 d) 8.25

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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Hi expert please give me answer general accounting question

In the most recent fiscal year, Tanaka Industries reported a net income of
$240,000, interest expense of $48,000, and income tax expense of $72,000.
What was Tanaka Industries' times interest earned ratio for the year?
a) 5.00
b) 6.50
c) 7.50
d) 8.25

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