The following data come from the financial records of Rundle Corporation for 2018: Sales $ 845,000 Interest expense 5,800 Income tax expense 28,500 Net income 23,000 Required How many times was interest earned in 2018?
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The following data come from the financial records of Rundle Corporation for 2018:
Sales | $ | 845,000 | |
Interest expense | 5,800 | ||
Income tax expense | 28,500 | ||
Net income | 23,000 | ||
Required
How many times was interest earned in 2018?
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- K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...Given the historical income statement of Mega Trade Inc., how much would be added to the company's retained earning for the year 2016 (in millions)? Income Statement ( $ Million) Year End 2015 2016 2017 2019 Sales 1, 234.90 1,251.70 1,300.40 1,334.40 Cost of Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income / Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1During 2019, the company reported net income of $4,212 million, interest expense of $167 million and income tax expense of $1,372 million. During 2018? Based on this information, what is the time interests earned ratio? A. 34.4 B. 34.1 C. 32.2 D. 28.4
- Use the following information for Ingersoll, Inc. Assume the tax rate is 21 percent. 2019 $18,798 2,494 6,741 1,183 Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2018 $17,049 2,386 5,740 1,350 Cash flow from assets Cash flow to creditors Cash flow to stockholders 1,115 1,330 8,681 9,277 11,498 13,512 1,684 1,651 29,090 35,254 72,792 77,640 6,275 6,670 20,441 21,872 2,029 2,324 For 2019, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)Herbert Wong has extracted the following information from her income statement and balance sheet for 2021 and 2020: 2021 2020 Profit After Tax $656,810 $672,346 Cost of Sales $54,269 $53,251 Sales Revenue $259,368 $212,962 Inventory $35,505 $45,285 Accounts payable $120,483 $129,398 Accounts receivable (Debtors) $59,498 $79,380 Owner's Equity $1,523,999 $1,131,784 Based on the information provided, calculate the Days in Accounts Receivable for 2021, expressed in days to 2 decimal places.The following are extracted from the financial statements of Shawn Co., for 2019, 2018, and 2017. 2019 2018 2017 Net sales $233,000 (124,000) (95,000) $204,000 Cost of sales (110,000) (81,500) Selling and administrative expenses Other income: Interest Other (3,700) (3,050) 1,175 $ 10,625 100 Earnings before tax and extraordinary credit Provision for income tax $ 10,400 (4,800) 5,600 (4,740) Earnings before extraordinary credit Extraordinary credit 5,885 1,510 $ 7,395 $ 5,600 Total assets $202,000 $173,000 17,400 116,800 4,000 280 $161,000 Long-term debt Common equity 24,600 123,000 15,200 112,800 4,000 280 Preferred stock 4,000 Preferred dividends 280 Required: Compute the following ratios for Shawn Co. for 2019 and 2018. 1. Return on total equity Return on common equity Gross profit margin 2. 3. b. Discuss the trend in profitability and identify specific causes for the trend.
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