Auto Industries Company reported the following on its income statement: Income before income taxes $420,000 Income tax expense 120,000 Net income $300,000 If the income statement also shows interest expense equal to $80,000, what is the company's times interest earned ratio?
a. 5 times
b. 8 times
c. 5.25 times
d. 6.25 times
d
Business
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Adjusting entries are journalized and posted after closing entries
Indicate whether the statement is true or false
Business
Standard costing combines actual direct costs of materials and labor with estimated overhead costs to determine a product unit cost
Indicate whether the statement is true or false
Business
Transfer pricing is a method of moving funds that represents intrafirm sales, which actually make up what percentage of world trade?
A. 12 percent B. 2 percent C. 60 percent D. 20 percent
Business
In the United States, sales of new stocks and bonds are regulated by the Securities and Exchange Commission (SEC).
Answer the following statement true (T) or false (F)
Business