Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid $36,408 28,225 1,760 6,423 510 5,913 Taxable Income...

Precision Tools<br>2021 Income Statement<br>Net sales<br>Less: Cost of goods sold<br>Less: Depreciation<br>Earnings before interest and taxes<br>Less: Interest paid<br>$36,408<br>28,225<br>1,760<br>6,423<br>510<br>5,913<br>Taxable Income<br>Less: Taxes<br>2.070<br>$3.843<br>Net Income<br>Precision Tools 2020 and 2021 Balance Sheets<br>2020<br>2021<br>2020<br>2021<br>$<br>Cash<br>2,060<br>1,003<br>Accounts<br>7,250<br>8,384<br>payable<br>Accounts<br>3,411<br>4,218<br>receivable<br>21.908<br>27,129<br>Inventory<br>18,776<br>24,247<br>17,500<br>3.825<br>Common stock<br>Retained<br>earnings<br>Total liability &<br>15,000<br>Net fixed assets<br>14,160<br>14.080<br>6.357<br>Total assets<br>38.407<br>41,209<br>38,407<br>41,209<br>equity<br>What is the times interest earned ratio for 2021?<br>

Extracted text: Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid $36,408 28,225 1,760 6,423 510 5,913 Taxable Income Less: Taxes 2.070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 $ Cash 2,060 1,003 Accounts 7,250 8,384 payable Accounts 3,411 4,218 receivable 21.908 27,129 Inventory 18,776 24,247 17,500 3.825 Common stock Retained earnings Total liability & 15,000 Net fixed assets 14,160 14.080 6.357 Total assets 38.407 41,209 38,407 41,209 equity What is the times interest earned ratio for 2021?

Jun 10, 2022

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Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid $36,408 28,225 1,760 6,423 510 5,913 Taxable Income...

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