Times interest earned A company reports the following: Income before income tax $1,108,800 Interest expense 112,000 Determine the times interest earned ratio. If required, round the answer to one decimal place.
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Times interest earned
A company reports the following:
Income before income tax | $1,108,800 |
Interest expense | 112,000 |
Determine the times interest earned ratio. If required, round the answer to one decimal place.
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- Times interest earned A company reports the following: Income before income tax expense $1,271,600 Interest expense 187,000 Determine the times interest earned ratio. If required, round the answer to one decimal place.Hsu Company reported the following on its income statement: Income before income taxes Income tax expense Net income $356,883 107,065 $249,818 Interest expense was $73,432. Hsu Company's times interest earned ratio (rounded to two decimal places) is Oa. 5.86 times Ob. 3.4 times Oc. 4.86 times Od. 2.4 timesFor this question, calculate all values to 2 decimal places of £M (e.g. £123.45M) unless otherwise specified, and all ratios to 2 decimal places of percentage (e.g. 9.87%). You are given the following income statements and balance sheets for Freddie M Corporation for fiscal years 2045 and 2046 (all figures are in £ million), Income Statement Balance Sheet Sales Cost of goods sold Gross margin Wage & salaries expense Depreciation expense Earnings before interest and tax Interest expenses Taxes Net income Dividends Change in shareholder's equity Assets: Cash & equivalents Receivables Inventories Current Assets Property, plant & equipment Accumulated depreciation Net property, plant & equip Total Assets 2045 400.00 -200.00 200.00 -50.00 -25.00 125.00 -25.00 -60.00 40.00 -16.00 24.00 2045 2046 480.00 -240.00 240.00 -60.00 -25.00 155.00 -20.00 -70.00 65.00 -26.00 39.00 2046 Liabilities: 30.00 36.00 Payables 60.00 Short-term debt 50.00 50.00 60.00 Long-term debt 130.00 156.00 Total…
- A company reports the following: Line Item Description Amount Sales $1,069,085 Average accounts receivable (net) 105,850 Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year.K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...The following data are taken from the financial statements of Coronado Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a1) Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable (net) was $465,000. (Round answers to 1 decimal place, e.g. 1.6.) Accounts receivable turnover eTextbook and Media Save for Later (a2) 2022 2021 $525,000 $500,000 4,100,000 3,184,500 Average collection period 2022 times 2022 days 2021 2021 times Compute for each year the average collection period. At the end of 2020, accounts receivable (net) was $465,000. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) Assistance Used Attempts: unlimited days Submit Answer
- Selected income statement data follow for Harper, Inc., for the year ended December 31 (in thousands). What is the company's times interest earned ratio? Income before provision for income taxes $1,025959 Interest expense $29,670 Statutory tax rate 37% Provision for income taxes $322,410 Net income $693,548Selected income statement data follow for Harper, Inc., for the year ended December 31 (in thousands). What is the company's times interest earned ratio? Operating income before interest Interest expense Operating income after interest Income tax Income after tax 35.6 30.6 11.2 24.4 6,617 189 6.428 1,607 4,821A company reports the following: Sales $1,057,770 Average accounts receivable (net) 83,950 Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
- The Lancaster Corporation's income statement is given below. Sales Cost of goods sold Gross profit Fixed charges (other than interest) Income before interest and taxes LANCASTER CORPORATION Interest Income before taxes Taxes (35%) Income after taxes a. What is the times-interest-earned ratio? Note: Round your answer to 2 decimal places. Times interest earned Fixed charge coverage times b. What would be the fixed-charge-coverage ratio? Note: Round your answer to 2 decimal places. times $ 234,000 175,000 $ 59,000 33,000 $ 26,000 17,300 $ 8,700 3,045 $ 5,655FINANCIAL RATIO: Requirement: Compute for the following financial ratios for the year 2021 (round-off answers to two decimal places) f. Accounts receivable turnover (assume all sales are on credit) g. Days of receivable (use 365 days) h. Debt ratio i. Equity ratio j. Debt-to-equity ratio k. Gross profit ratio 1. Net profit ratio m. Return on assets n. Return on equityIacouva Company reported the following on the company’s income statement for two recent years: Please see the attachment for details: a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place.b. What conclusions can you draw?