Determine the times interest earned ratio
Problem
For the FY 2018, Frederick Company had net sales of $1,000,000 and net income of $60,000, paid income taxes of $15,000, and had before tax interest expense of $15,000. Use this information to determine the Times Interest Earned Ratio.
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For the FY 2018, Frederick Company had net sales of $1,000,000 and net income of $60,000. Use this information to determine the Times Interest Earned Ratio.
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