A company with a net income of $15.2 million and depreciation expenses of $720,000. Accounts receivable increased by $280,000, while accounts payable decreased by $400,000. The company also invested $1.4 million in equipment. Our focus here is on calculating the free cash flow, which represents the cash remaining after all expenditures required to maintain or expand the company's asset base, and determining the times interest earned ratio, which evaluates a company's ability to cover its interest expenses with its earnings before interest and taxes (EBIT).