Sales are $1.40 million, cost of goods sold is $550,000,depreciation expense is $140,000, other operating expenses is$290,000, addition to retained earnings is $118,000, dividends pershare is $1, tax rate is 40 percent, and number of shares of commonstock outstanding is 80,000. LaTonya’s Flop Shops has no preferredstock outstanding. Use the above information to calculate the timesinterest earned ratio for LaTonya’s Flop Shops, Inc., (Round youranswer to 2 decimal places.)
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