Beech Company provided the following income statement for last year: Sales…………. $ 24,350,735 Cost of
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Beech Company provided the following income statement for last year:
Sales…………. $ 24,350,735
Cost of goods sold………..15,300,000
Gross margin………….. $ 9,050,735
Operating expenses…………………. 4,910,685
Operating income………………… $ 4,140,050
Interest expenses………………………. 487,015
Net income before taxes……. $ 3,653,035
Income taxes…………. 1,461,214
Net income………… $ 2,191,821
Required:
Calculate the times-interest-earned ratio. Round the answer to one decimal place.
Beech Company provided the following income statement for last y
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