The following information is taken from the financial statements of Burton Industries: Total Assets$360,000 Total Liabilities 162,000 Total Stockholders' Equity 198,000 Net Income 126,000 Income Tax Expense 37,800 Interest Expense 9,000 The company's times interest earned ratio is:
A. 19.2.
B. 15.0.
C. 18.2.
D. 4.7.
Answer: A
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During its first three years of operations a company reported pre-tax book income of $1,000,000 in year 1, ($1,800,000) in year 2, and $3,000,000 in year 3. The income tax rate applicable to each of the years was 40%.Assume that there weren't any temporary differences and a valuation allowance was not necessary.What amount of income tax expense was reported in year 3 if the company elected a loss carryback?
A. $ 480,000 B. $ 880,000 C. $ 400,000 D. $1,200,000
Explain the difference between a market penetration strategy and a market development strategy
What will be an ideal response?
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A. Choice A B. Choice B C. Choice C D. Choice D E. Choice E
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