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The Following Information Is from the Financial Records of Newton

question 104

Essay

The following information is from the financial records of Newton Company for Year 2:
 Sales $620,000 Interest expense 26,000 Income tax expense 46,000 Net income 104,000\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.)


Definitions:

Exports

Trade goods or services exported from one country to another for commercial exchange or sale.

Trading Partner

A country, group of countries, or an entity with which another conducts trade and business transactions.

Workforce

The total number of people employed or seeking employment in a country or specific sector.

Service Sector

The segment of the economy that provides intangible goods and services, such as healthcare, education, and financial services.

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