Given the Following Data, Determine the Times Interest Earned Ratio

question 183

Short Answer

Given the following data, determine the times interest earned ratio.
Net income - $70,000
Bonds Payable (issued at face value), 8% - $5,000,000
Preferred Stock ($50 par value, 6%, 10,000 shares issued & outstanding)
Tax rate - 30%

---

Definitions:

B2B Transactions

Business-to-business dealings that involve the exchange of goods, services, or information between companies rather than between companies and consumers.

Chemical Supply Company

A business that specializes in the distribution of chemicals for industrial, research, or consumer use.

Web Developer

A professional who specializes in the development of applications and solutions for the Internet, ranging from websites to services accessed via web browsers.

Hand Picker

An interface tool or device designed to simulate hand gestures or movements, often used in virtual reality or graphic design applications.