Question

The income statement for Pennsylvania Communications follows. Assume Pennsylvania Communications signed a 3 month. 3% $100 000 note on June 1 囲(Click the icon to view the income statement.) 2018 and that this was the only note payable or the company Requirements 1. Fll in the missing information for Pennsylvania's year ended July 31, 2018, income statement. Round to the nearest dollar 2. Compute the times-interest-eamed ratio for the company. Round to two decimals. i Data Table Year tnded July 31, 2U18 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses 35 DD0 Income Statement 24 DD0 Year Ended July 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: 5 35.000 11,000 Selling Expenses 730 1,800 24.000 Total Operating Expenses Selling Expenses Operating Income Other Income and (Expenses): 730 1,800 21.470 2,530 Interest Expense Total Operating Expenses Operating Income Other Income and (Expenses): 21.470 Total Other Income and (Expenses) Net Income before Income Tax Expense Income Tax Expense Net Income 4.190) Interest Expense Total Other Income and (Expenses) Net Income before Income Tax Expense Income Tax Expense Net Income Enter any number in the edit fields and then click Check Answer 4190 part remaining Clear Al

Answer 1

3,470 12,000