Lake Company reported the following on its income statement: An analysis of the income statement revealed that interest expense was $60,000. Lake Company's times interest earned was
A)11 times.
B)10 times.
C)8.5 times.
D)7.5 times.

Question

Lake Company reported the following on its income statement:  An analysis of the income statement revealed that interest expense was $60,000. Lake Company's times interest earned was
A)11 times. 
B)10 times. 
C)8.5 times. 
D)7.5 times.

Quizplus · Accepted Answer

The Answer of Lake Company reported the following on its income statement:  An analysis of the income statement revealed that interest expense was $60,000. Lake Company's times interest earned was
A)11 times. 
B)10 times. 
C)8.5 times. 
D)7.5 times.

Lake Company Reported the Following on Its Income Statement