For the most recent year, Seether, Inc., had sales of $442,000, cost of goods sold of $218,900, depreciation expense of $58,600, and additions to retained earnings of $50,800. The firm currently has 27,000 shares of common stock outstanding, and the previous year’s dividends per share were $1.35.
Required:
Assuming a 30 percent income tax rate, what was the times interest earned ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
