The information related to interest expense of stereo music


Problem

The information related to interest expense of Stereo Music is given below:

Net income                    $255,000

Income tax expense       102,000

Interest expense            65,000

Based on the above data, what is the interest coverage ratio? Please show your calculation.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: The information related to interest expense of stereo music
Reference No:- TGS02592377

Now Priced at $15 (50% Discount)

Recommended (95%)

Rated (4.7/5)