Question

For the most recent year, Camargo, Inc., had sales of $ 546,000, cost of goods sold of $ 244,410, depreciation expense of $ 61,900, and additions to retained earnings of $ 74,300. The firm currently has 21,500 shares of common stock outstanding and the previous year's dividends per share were $ 1.25.

Assuming a 23 percent income tax rate, what was the times interest earned ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Times interest earned = _______  times

Answer 1