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Feliz [49]
3 years ago
12

In a recent year Sunland Company had net income of $360000, interest expense of $72000, and a times interest earned of 10. What

was Sunland Company’s income before taxes for the year? $792000 $720000 $648000 None of these answer choices are correct.
Business
1 answer:
Otrada [13]3 years ago
4 0

Answer:

$648,000

Explanation:

Given that;

Net income = $360,000

Interest expense = $72,000

Times interest earned = 10

Net Income + Interest expense + Tax expense ÷ Interest expense = Times interest earned.

($360,000 + $72,000 + Tax expense) /$72,000 = 10

Tax expense = $288,000

Therefore;

Sunderland's income before taxes for the year

= Net income + Tax expense

= $360,000 + $288,000

= $648,000

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Stuart Concrete Company pours concrete slabs for single-family dwellings. Lancing Construction Company, which operates outside S
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