Consider the following operating figures: Net sales …………………………………….. $1,079,143 Cost and deductions: Cost of sales ………………………………… 792,755 Selling and administration ………………….. 264,566 Interest expense, net...
litlerConsider the following operating figures:
Net sales …………………………………….. $1,079,143
Cost and deductions:
Cost of sales ………………………………… 792,755
Selling and administration ………………….. 264,566
Interest expense, net ………………………… 4,311
Income taxes ………………………………… 5,059
1,066,691
$ 12,452
Note: Depreciation expense totals $40,000.
Required
a. Compute the times interest earned.
b. Compute the cash basis times interest earned.
13 years ago
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