Ingram Dog Kennels had the following financial statistics for 2012: $$\begin{array} { l r }
\text { Long-term debt (average rate of interest is } 8 \% ) & \$ 400,000 \
\text { Interest expense } & 35,000 \
\text { Net income } & 48,000 \
\text { Income tax } & 46,000 \
\text { Operating income } & 107,000
\end{array}$$ What is the times interest earned for 2012?

Question

Ingram Dog Kennels had the following financial statistics for 2012: $$\begin{array} { l r } 
\text { Long-term debt (average rate of interest is } 8 \% ) & \$ 400,000 \
\text { Interest expense } & 35,000 \
\text { Net income } & 48,000 \
\text { Income tax } & 46,000 \
\text { Operating income } & 107,000
\end{array}$$ What is the times interest earned for 2012?

Quizplus · Accepted Answer

The Answer of Ingram Dog Kennels had the following financial statistics for 2012: $$\begin{array} { l r } 
\text { Long-term debt (average rate of interest is } 8 \% ) & \$ 400,000 \
\text { Interest expense } & 35,000 \
\text { Net income } & 48,000 \
\text { Income tax } & 46,000 \
\text { Operating income } & 107,000
\end{array}$$ What is the times interest earned for 2012?

Ingram Dog Kennels Had the Following Financial Statistics for 2012