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In the past year Pharoah Corporation had net income of $209000, interest expense of $55000, and tax expense of $89000. During the current year, Pharoah refinanced their debt so interest expense is now $38000. Net Income is expected to be $247000 and the tax expense is expected to be $102600. What is Pharoah Corporation's times interest earned after the changes? O 10.20 O241 0753 06.50

In the past year Pharoah Corporation had net income of $209000, interest expense of $55000, and tax expense of $89000. During the current year, Pharoah refinanced their debt so interest expense is now $38000. Net Income is expected to be $247000 and the tax expense is expected to be $102600. What is Pharoah Corporation's times interest earned after the changes? O 10.20 O241 0753 06.50

FINANCIAL ACCOUNTING
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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In the past year Pharoah Corporation had net income of $209000, interest expense of $55000, and tax expense of $89000. During the current year, Pharoah refinanced their debt so interest expense is now $38000. Net Income is expected to be $247000 and the tax expense is expected to be $102600. What is Pharoah Corporation's times interest earned after the changes? O 10.20 O241 O 753 06.50
Transcribed Image Text:In the past year Pharoah Corporation had net income of $209000, interest expense of $55000, and tax expense of $89000. During the current year, Pharoah refinanced their debt so interest expense is now $38000. Net Income is expected to be $247000 and the tax expense is expected to be $102600. What is Pharoah Corporation's times interest earned after the changes? O 10.20 O241 O 753 06.50
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