The following data were abstracted from the records of Johnson Corporation for the year: Sales                                                               P1,800,000 Bond interest expense                                   60,000 Income taxes                                                     300,000 Net income                                                        400,000 How many times was bond interest earned? Group of answer choices 11.67 13.67 7.67 12.67

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The following data were abstracted from the records of Johnson Corporation for the year:

Sales                                                               P1,800,000

Bond interest expense                                   60,000

Income taxes                                                     300,000

Net income                                                        400,000

How many times was bond interest earned?

Group of answer choices
11.67
13.67
7.67
12.67
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