The following information is from the financial records of Newton Company for Year 2:
$$\begin{array} { l r }
\text { Sales } & \$ 620,000 \
\text { Interest expense } & 26,000 \
\text { Income tax expense } & 46,000 \
\text { Net income } & 104,000
\end{array}$$ Required:
Calculate the number of times interest is earned for Newton in Year 2. (Round your answer to one decimal place.)

Question

The following information is from the financial records of Newton Company for Year 2:
 $$\begin{array} { l r } 
\text { Sales } & \$ 620,000 \
\text { Interest expense } & 26,000 \
\text { Income tax expense } & 46,000 \
\text { Net income } & 104,000
\end{array}$$ Required:
Calculate the number of times interest is earned for Newton in Year 2. (Round your answer to one decimal place.)

Quizplus · Accepted Answer

The Answer of The following information is from the financial records of Newton Company for Year 2:
 $$\begin{array} { l r } 
\text { Sales } & \$ 620,000 \
\text { Interest expense } & 26,000 \
\text { Income tax expense } & 46,000 \
\text { Net income } & 104,000
\end{array}$$ Required:
Calculate the number of times interest is earned for Newton in Year 2. (Round your answer to one decimal place.)

The Following Information Is from the Financial Records of Newton