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Calculate the times interest earned for the year ended

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Reference no: EM133031962

Problem - The following information was available for the year ended December 31, 2019:

Earnings before interest and taxes (operating income)

$99,000

Interest expense

23,000

Income tax expense

28,000

Net income

48,000

Total assets at year-end

330,000

Total liabilities at year-end

172,000

Required -

a. Calculate the debt ratio at December 31, 2019.

b. Calculate the debt/equity ratio at December 31, 2019.

c. Calculate the times interest earned for the year ended December 31, 2019.

Reference no: EM133031962

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