Calculate the times-interest-earned ratio. (Round your answer to two decimal places.)
Milton, Inc. provides the following income statement for 2019:
A) 73.00 times
B) 46.00 times
C) 40.30 times
D) 47.00 times
D) 47.00 times
Times-interest-earned ratio = (Net income + Income tax expense + Interest expense) /
Interest expense = ($40,300 + 5700 + 1000) / 1000 = 47.00 times
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