13. In a recent year Ayayai Corp. had net income of $140000, interest


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13. In a recent year Ayayai Corp. had net income of $140000, interest expense of $27500, and income tax expense of $37500. What was Ayayai Corp.'s times interest earned (rounded) for the year? a) 6.45 b) 7.45 c) 5.09 d) 6.09 ? 21. The pr

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13. In a recent year Ayayai Corp. had net income of $140000, interest
expense of $27500, and income tax expense of $37500. What was Ayayai Corp.'s times interest earned (rounded) for the year?


a) 6.45

b) 7.45

c) 5.09

d) 6.09
?
21. The primary purpose of the statement of cash flows is to


a) provide information about the investing and financing activities during a period.

b) prove that revenues exceed expenses if there is a net income.

c) provide information about the cash receipts and cash payments during a period.

d) facilitate banking relationships.


22. Which one of the following items is not generally used in preparing a statement of cash flows?


a) Additional information.

b) Current income statement.

c) Adjusted trial balance.

d) Comparative balance sheets.

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