Essay
Ferro Inc. signed a 200-day, 5%, $5,000 note on April 1, 2014, and that this was the only note payable for the company. Calculate the times-interest-earned ratio of Ferro Inc. if its operating income for the year ending December 31, 2014, amounts to $4,300. Assume a tax rate of 20%.
Correct Answer:
Verified
Correct Answer:
Verified
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