Multiple Choice
Heavy Load, Inc. has sales of $3,450,000, total assets of $1,240,000, and total liabilities of $275,000, which consist strictly of notes payable. The firm's operating profit margin is 16.1%, and it pays a 10% rate of interest on its notes payable. How much is the firm's times-interest-earned?
A) 15.6
B) 45.3
C) 20.2
D) 3.0
Correct Answer:
Verified
Correct Answer:
Verified
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