Refer to the following selected financial information from Gomez Electronics. Compute the companys times interest...
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Accounting
Refer to the following selected financial information from Gomez Electronics. Compute the companys times interest earned for Year 2.
| Year 2 | Year 1 | |
|---|---|---|
| Net sales | $ 480,500 | $ 426,650 |
| Cost of goods sold | 276,700 | 250,520 |
| Interest expense | 10,100 | 11,100 |
| Net income before tax | 67,650 | 53,080 |
| Net income after tax | 46,450 | 40,300 |
| Total assets | 317,900 | 290,400 |
| Total liabilities | 179,400 | 167,700 |
| Total equity | 138,500 | 122,700 |
Multiple Choice
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