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Given the Following Data, Determine the Times Interest Earned Ratio

Question 150

Essay

Given the following data, determine the times interest earned ratio.
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Net income, $70,000
Bonds payable, issued at face value, 8%, $5,000,000
Tax rate is 30%
Interest payable, $6,000
Interest receivable, $1,700

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Times interest earned ratio = (Income be...

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