The Following Information Is from the Financial Records of Newton

question 121

Short Answer

The following information is from the financial records of Newton Company for Year 2:
$$\begin{array} { l r } \text { Sales } & \$ 620,000 \\\text { Interest expense } & 26,000 \\\text { Income tax expense } & 46,000 \\\text { Net income } & 104,000\end{array}$$ Required:
Calculate the number of times interest is earned for Newton in Year 2. (Round your answer to one decimal place.)

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