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

question 1

Multiple Choice

Balance sheet and income statement data indicate the following: $$\begin{array} { l r } \text { Bonds payable, } 6 \% \text { (this is year } 4 \text { of } 20 \text { years) } & \$ 1,200,000 \\\text { Income before income tax for year } & 340,000 \\\text { Income tax for year } & 80,000 \\\text { Interest payable } & 9,000 \\\text { Interest receivable } & 26,000\end{array}$$
Based on the data presented above, what is the times interest earned ratio? (Round to two decimal places.)

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The expenses associated with the use of a product or service, including maintenance, repair, and opportunity costs of capital tied up in ownership.

Nonrenewable Resource

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