In the past year Cullumber Corporation had net income of $211000, interest expense of $50000, and tax expense of $85000. During the current year, Cullumber refinanced their debt so interest expense is now $42000. Net Income is expected to be $253000 and the tax expense is expected to be $99800. What is Cullumber Corporation's times interest earned after the changes? 06.02 19.40 06.59 02.54

In the past year Cullumber Corporation had net income of $211000, interest expense of $50000, and tax expense of $85000. During the current year, Cullumber refinanced their debt so interest expense is now $42000. Net Income is expected to be $253000 and the tax expense is expected to be $99800. What is Cullumber Corporation's times interest earned after the changes? 06.02 19.40 06.59 02.54

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please show stepwise and correct. Thanks.
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