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Rickos Rickos
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6 years ago
Consolidated Industries has total interest charges of $20,000 per year. Sales of $2 million generated an operating income of $220,000 and an after-tax profit of 6% of sales. The firm has a marginal tax rate of 39%. What is the firm's times-interest-earned ratio?
A) 10
B) 11
C) 12
D) 13
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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vanrheevanrhee
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6 years ago
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Rickos Author
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#2
6 years ago
You saved my grade for me. I can't thank you enough.
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