Sheehan,Inc.provides the Following Income Statement for 2017

question 71

Multiple Choice

Sheehan,Inc.provides the following income statement for 2017:

Calculate the times-interest-earned ratio.(Round your answer to two decimal places. )

• A)73.00 times
• B)49.00 times
• C)43.60 times
• D)50.00 times

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Definitions:

Statement Of Income

A financial document showing a company's revenue, expenses, and net income over a specific period.

Classifying Expenses

The process of organizing expenses into categories for financial reporting and analysis.

ASPE

A collection of accounting norms applicable to private entities in Canada, known as Accounting Standards for Private Enterprises.

Statement Of Income

A financial report that provides a summary of a company's revenues, expenses, and profits over a specific period of time, often referred to as a profit and loss statement.