The Following Information Comes from the Balance Sheets and Income
Question 91
Question 91
Multiple Choice
The following information comes from the balance sheets and income statements of Crosby Co.: Cash Accourts receivable Irventory Property ard equipment Current liabilities Long-term liabilities Stockholders equity Net sales reverules Cost of goods sold Operating expenses Interest expense Income tax expense As of or for the Year ended Decermber 31 Curent Year $24,00038,00064,000224,00088,000106,000156,000680,000440,000160,00010,00018,000 Prior Year $20,00044,00050,000218,00080,000100,000152,000630,000420,000150,0008,00016,000 What is the times interest earned ratio for the current year?
A) 2.2 B) 5.2 C) 6.2 D) 8.0
Correct Answer:
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