Ch 13 Homework 6 Retained earnangs Total liabilities and equity $475,904 $41,262

Question

Ch 13 Homework 6 Retained earnangs Total liabilities and equity $475,904 $41,262 % 338,500 The company's income statements for the years ended December 31, 2017 and 2016, follow. Part 3 of 3 Sales Cost of goods sold Other operating expenses Interest expense Incone taxes Total costs and expenses Net income Earnings per share $618,675 488,212 317,338 123,518 11,229 $377,392 10 points 10,517 8-943 87,741 30,93 459,408 $ 28,884 1.77 eBook 1.90 Calculate the company's long-term risk and capital structure positions at the end of 2017 and 2016 by computing the following ratios. Exercise 13-9 Part 3 (3) Times interest earned Times Interest Earned Times interest eamed 17 2016

Explanation / Answer

Income before interest and income taxes: 2017 49494 =30934+10517+8043 2018 47356 =28804+11229+7323 Income before interest and income taxes/Interest expense = Times interest earned 2017 4.71 =49494/10517 2018 4.22 =47356/11229

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