The following information is from Los Gringos Locos, Inc. 20202019Net sales$8,000 $7,600 Cost of...
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Accounting
The following information is from Los Gringos Locos, Inc.
20202019Net sales$8,000 $7,600 Cost of goods sold4,125 3,900 Gross profit3,875 3,700 Selling and Administrative expenses2,100 2,025 Income from operations1,775 1,675 Interest expense225 188 Income before income taxes1,550 1,487 Income tax expense315 300 Net income1,235 1,187
What is the Times-Interest-Earned ratio for 2020, rounded to the nearest decimal?
a. 7.9
b. 5.5
c. 9.3
d. 6.5
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