Selected Income Statement Data - for the year ending December 31, 2017: Net sales $4,885,340 Cost of goods sold (2,942,353 ) Selling expenses (884,685 ) Operating income 1,058,302 Interest expense (55,240 ) Earnings before income taxes 1,003,062 Income tax expense (401,225 ) Net income $ 601,837 Selected Statement of Cash Flow Data - for the year ending December 31, 2017: Cash flows from operations $1,456,084 Capital expenditures $745,862 Wilmington Corporation's times interest earned ratio in 2017 was: A. 20.57 B. 19.16 C. 10.89 D. 18.15
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Ответ:
Option (b) is correct.
Explanation:
Given that,
Net sales = $4,885,340
Cost of goods sold = (2,942,353 )
Selling expenses = (884,685 )
Operating income = $1,058,302
Interest expense = $(55,240 )
Earnings before income taxes = $1,003,062
Income tax expense = $(401,225 )
Net income = $ 601,837
EBIT = Net income + Income tax expense + Interest expense
= $1,003,062 + $401,225 + $55,240
= $1,058,302
Times interest earned ratio in 2017:
= EBIT ÷ Interest expense
= $1,058,302 ÷ $55,240
= 19.1582 or 19.16
Ответ:
It is 2
Step-by-step explanation:
Because it 2 yk