Melon, Inc. provides the following income statement for 20X9: $240,000 110,000 $130.000 Net Sales Cost...
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Melon, Inc. provides the following income statement for 20X9: $240,000 110,000 $130.000 Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Loss on Sale of Capital Assets Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income 45,000 12.000 57.000 $73.000 (30,000) (1000) (31.000 $42.000 5500 $36,500 Calculate the times-interest-earned ratio. 73.00 times 43.00 times 42.00 times 36.50 times
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