Balance Sheet and Income Statement Data Indicate the Following Based on the Data Presented Above, What Is the Times

question 113

Multiple Choice

Balance sheet and income statement data indicate the following: $$\begin{array} { l r } \text { Bonds payable, } 6 \% \text { (due in } 15 \text { years) } & \$ 1,200,000 \\\text { Income before income tax for year } & 320,000 \\\text { Income tax for year } & 80,000 \\\text { Interest payable } & 33,000 \\\text { Interest receivable } & 19,000\end{array}$$
Based on the data presented above, what is the times interest earned ratio? (Round to two decimal places.)

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Definitions:

Cooperative Strategies

Approaches and tactics employed by businesses or individuals to work together towards mutual goals, often involving partnerships, alliances, or collaborative ventures.

Conflict Management

Involves strategies and practices for effectively addressing and resolving disagreements and disputes within an organization.

Differentiation

The process in organizations of making a product or service stand out as unique in comparison to others in the market.

Incompatible Goals

Incompatible goals describe objectives or aims set by individuals or groups within an organization that conflict with each other, potentially leading to disputes or inefficiencies.