Mauka, Inc. provided the following income statement for last year: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685 Operating income $4,140,050 511,015 $3,629,035 1,461,214 $2,167,821 Required: Calculate the times-interest-earned ratio. Round the answer to one decimal place. times Interest expense Income before taxes Income taxes Net income

Mauka, Inc. provided the following income statement for last year: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685 Operating income $4,140,050 511,015 $3,629,035 1,461,214 $2,167,821 Required: Calculate the times-interest-earned ratio. Round the answer to one decimal place. times Interest expense Income before taxes Income taxes Net income

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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