If a company had net income of $2,499,600, interest expense of 246,000, a tax ra

ID: 2505350 • Letter: I

Question

If a company had net income of $2,499,600, interest expense of 246,000, a tax rate of 40%, and operating income of $4,440,000, what is the times interest earned ratio?

4.06

Conner Company borrows $185,900 cash on November 1, 2013, by signing a 150-day, 8% note. What is the total amount of interest expense that Conner will recognize for this note?

If a company had net income of $2,499,600, interest expense of 246,000, a tax rate of 40%, and operating income of $4,440,000, what is the times interest earned ratio?

Explanation / Answer

If a company had net income of $2,499,600, interest expense of 246,000, a tax rate of 40%, and operating income of $4,440,000, what is the times interest earned ratio?

Conner Company borrows $185,900 cash on November 1, 2013, by signing a 150-day, 8% note. What is the total amount of interest expense that Conner will recognize for this note?

18.05

Conner Company borrows $185,900 cash on November 1, 2013, by signing a 150-day, 8% note. What is the total amount of interest expense that Conner will recognize for this note?

$14,872.

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If a company had net income of $2,499,600, interest expense of 246,000, a tax ra

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