Alessandra Makeup Manufacturers provided the following income statement for last year:…
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Alessandra Makeup Manufacturers provided the following income statement for last year:
Sales……………………………………$51,350,000
Cost of goods sold………………………19,250,000
Gross margin……………………………$32,100,000
Operating expenses………………………6,200,000
Operating income………………………$25,900,000
Interest expense……………………………9,500,000
Income before taxes……………………$16,400,000
Income taxes………………………………6,560,000
Net income……………………………..$ 9,840,000
Required:
Calculate the times-interest-earned ratio.
Alessandra Makeup Manufacturers provided the following income statement for last
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