The Sally Corporation’s income statement is given below. Sally Corporation Sales…………………………………$250
Question: The Sally Corporation’s income statement is given below.
Sally Corporation
Sales…………………………………$250,000
Cost of Goods Sold………………….. 145,000
Gross Profit……………………………105,000
Fixed Charges (other than interest)…… 25,000
Income before interest and taxes………..80,000
Interest………………………………….. 20,000
Income before taxes……………………. 60,000
Taxes (35%)…………………………….. 21,000
Income after taxes……………………….$39,000
a. What is Sally’s Time-Interest-Earned Ratio?
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Answer: The downloadable solution consists of 1 page
Solution Format: Word Document
Solution Format: Word Document
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