In a recent year Cheyenne Corp. had net income of $161000, interest expense of $31900, and income tax expense of $41500. What was Cheyenne Corp.'s times interest earned (rounded) for the year?
The following information pertains to Splish Company. Assume that all balance sheet amounts represent average balance figures.
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Total assets
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$410000
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Stockholders' equity-common
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290000
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Total stockholders' equity
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262000
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Sales revenue
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105000
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Net income
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22200
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Number of shares of common stock
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8000
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Common dividends
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6300
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Preferred dividends
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8300
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What is Splish's payout ratio?