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:

Conduction

The transfer of heat or electricity through a material or substance from one molecule to the next.

Thermal Radiation

The emission of electromagnetic waves from all objects with a temperature above absolute zero, conveying heat through a vacuum or transparent medium.

Radioactive Decay

The process by which an unstable atomic nucleus loses energy by emitting radiation, such as alpha particles, beta particles, or gamma rays.

Collision of Asteroids

An event where two or more asteroids in space come into contact with each other, often resulting in fragmentation or amalgamation.