The Following Data Came from the Financial Statements of Sawyer

question 151

Multiple Choice

The following data came from the financial statements of Sawyer Company: $\begin{array}{lr}\text { Total Assets } & \$ 369,000 \\\text { Total Liabilities } & 171,000 \\\text { Total Stockholders' Equity } & 198,000 \\\text { Income Tax Expense } & 7,200 \\\text { Interest Expense } & 900 \\\text { Net Income } & 117,000\end{array}$ What is the Sawyer's times interest earned ratio?

• A)130
• B)129
• C)122
• D)139

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Definitions:

Very Localized

Referring to something that is confined to a very small or specifically defined geographic area or community.

Total Sales

The aggregate revenue generated from selling goods or services over a specified period.

Concentration Ratio

A measure used in economics to assess the degree of market control held by the largest firms in the industry.

Differentiated Oligopoly

A market structure where a few companies control a large portion of the market share and compete by selling similar but not identical products.