Balance sheet and income statement data indicate the following: Bonds payable. 7

Question

Balance sheet and income statement data indicate the following: Bonds payable. 7% (issued 1990, due 2015) $1,251,209 Preferred 8% stock, $100 par (no change during the year) $200000 Common stock, $50 par (no change during the year) $1000000 Income before income tax for year $306,808 Income tax for year $92,042 common dividends paid $60000 Preferred divides paid $16000 Based on the data presented above, what is the number of times bond interest charges were earned (round to two decimal places) ? select the correct answer. 2045 1.45 4.50 3.50

Explanation / Answer

Bond interest charges were earned for 4.504 times, Hence option C is the answer

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