The following information was obtained from Quayle Company's income statement: / La siguiente información se obtuvo del Estado de resultados de Quayle Company: Income before Interest and Income Tax Expense/ Ingreso antes de interés y gasto por impuestos $ 685,000 Interest Expense / Gasto por interés 75,000 Income before Income Tax Expense/ Utilidad antes de ISR 610,000 Income Tax Expense / Gasto por ISR 213,500 Net Income / Utilidad neta $396.500 What is the times interest earned ratio? /¿Cuál es la razón veces interés ganado? 8.13 9.13 1.73 5.29
The following information was obtained from Quayle Company's income statement: / La siguiente información se obtuvo del Estado de resultados de Quayle Company: Income before Interest and Income Tax Expense/ Ingreso antes de interés y gasto por impuestos $ 685,000 Interest Expense / Gasto por interés 75,000 Income before Income Tax Expense/ Utilidad antes de ISR 610,000 Income Tax Expense / Gasto por ISR 213,500 Net Income / Utilidad neta $396.500 What is the times interest earned ratio? /¿Cuál es la razón veces interés ganado? 8.13 9.13 1.73 5.29
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
pregunta anexa
question in image
Transcribed Image Text:The following information was obtained from Quayle Company's income
statement: / La siguiente información se obtuvo del Estado de resultados
de Quayle Company:
Income before Interest and Income Tax Expense / Ingreso
$ 685,000
antes de interés y gasto por impuestos
Interest Expense / Gasto por interés
75,000
Income before Income Tax Expense / Utilidad antes de ISR
610,000
Income Tax Expense / Gasto por ISR
213,500
Net Income / Utilidad neta
$396.500
What is the times interest earned ratio? /¿Cuál es la razón veces interés
ganado?
O 8.13
9.13
1.73
5.29
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education