Balance sheet and income statement data indicate the following: Bonds payable, 1

Question

Balance sheet and income statement data indicate the following: Bonds payable, 10% (issued 1988 due 2012) $1,000,000 Preferred 5% stock, $100 par (no change during year) 300,000 Common stock, $50 par (no change during year) 2,000,000 Income before income tax for year 350,000 Income tax for year 80,000 Common dividends paid 50,000 Preferred dividends paid 15,000 Based on the data presented above, what is the number of times bond interest charges were earned (round to one decimal point)? Answer 3.7 4.4 4.5 3.5

Explanation / Answer

it is

4.4

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