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Sales are $1.49 million, cost of goods sold is $595,000, depreciation expense is $149,000, other operating...

Sales are $1.49 million, cost of goods sold is $595,000, depreciation expense is $149,000, other operating expenses is $299,000, addition to retained earnings is $114,400, dividends per share is $1, tax rate is 40 percent, and number of shares of common stock outstanding is 89,000. LaTonya’s Flop Shops has no preferred stock outstanding.

Use the above information to calculate the times interest earned ratio for LaTonya’s Flop Shops, Inc. (Round your answer to 2 decimal places.)

interest earned ______ times

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Answer #1

Common stock dividends is = (Number of common stock outstanding * dividends per share) Common stock dividends is = (89000*1)

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