Answered: Company's statement of income reported…

Company's statement of income reported profit of 339000 interest expense 83000 income tax expense 116000 companys times intrest earned ratio is 1. 6.48 2. 4.64 3. 4.08 4. 5.08

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2RE: Refer to RE5-1. Prepare a single-step income statement for Brandt Corporation for the current year.

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Question

Company's statement of income reported

profit of 339000

interest expense 83000

income tax expense 116000

companys times intrest earned ratio is

1. 6.48

2. 4.64

3. 4.08

4. 5.08

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