In the most recent fiscal year, Westridge Corporation reported a net income of $180,000, interest expense of $36,000, and income tax expense of $54,000. What was Westridge Corporation's times interest earned ratio for the year? a) 5.25 b) 6.00 c) 7.50 d) 8.75

In the most recent fiscal year, Westridge Corporation reported a net income of $180,000, interest expense of $36,000, and income tax expense of $54,000. What was Westridge Corporation's times interest earned ratio for the year? a) 5.25 b) 6.00 c) 7.50 d) 8.75

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, Westridge Corporation reported a net income
of $180,000, interest expense of $36,000, and income tax expense of $54,000.
What was Westridge Corporation's times interest earned ratio for the year?
a) 5.25
b) 6.00
c) 7.50
d) 8.75

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