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Question
The 2014 income statement for Golden Company is shown below:
| GOLDEN COMPANY Income Statements For the Year Ended December 31, 2014 | |
| Sales | $720,000 |
| Cost of goods sold | 450,000 |
| Gross profit | $270,000 |
| Operating expense | 168,500 |
| Income from operations | $101,500 |
| Interest expense | 22,300 |
| Income before taxes | $ 79,200 |
| Income taxes | 28,000 |
| Net income | 51,200 |
Calculate the times interest earned ratio for 2014.
Answer
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Related questions
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E. Speculation of interest rates and economic performance only.
Q:
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