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What the times interest earned for the year ended december

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Reference no: EM132727058

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

Earnings before interest and taxes (operating income) $ 50,000

Interest expense 10,000

Income tax expense 12,000

Net income 28,000

Total assets at year-end 200,000

Total liabilities at year-end 120,000

Problem 1: The times interest earned for the year ended December 31, 2019 was:

Multiple choice:

Option 1: 4.2 times

Option 2: 5.0 times

Option 3: 6.0 times

Option 4: 2.8 times

Reference no: EM132727058

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