Country Company reported the following on its income statement: $$\begin{array} { l r }
\text { Income before income taxes } & \$ 850,000 \
\text { Income tax expense } & 250,000 \
\text { Net income } & \$ 650,000 \
\hline
\end{array}$$ An analysis of the income statement revealed that interest expense was $100,000. Country Company's times interest earned was

Question

Country Company reported the following on its income statement: $$\begin{array} { l r } 
\text { Income before income taxes } & \$ 850,000 \
\text { Income tax expense } & 250,000 \
\text { Net income } & \$ 650,000 \
\hline
\end{array}$$ An analysis of the income statement revealed that interest expense was $100,000. Country Company's times interest earned was

Quizplus · Accepted Answer

The Answer of Country Company reported the following on its income statement: $$\begin{array} { l r } 
\text { Income before income taxes } & \$ 850,000 \
\text { Income tax expense } & 250,000 \
\text { Net income } & \$ 650,000 \
\hline
\end{array}$$ An analysis of the income statement revealed that interest expense was $100,000. Country Company's times interest earned was

Country Company Reported the Following on Its Income Statement An Analysis of the Income Statement Revealed That Interest Expense