Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ajax Corp's sales last year were $ 5 3 0 , 0 0 0 , its operating costs were $ 4 2 6 , 0

Ajax Corp's sales last year were $530,000, its operating costs were $426,000, and its interest charges were $12,500. What was the firm's times-interest-earned (TIE) ratio?
a.8.32
b.5.49
c.9.32
d.6.99
e.7.32

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Financialized Economy

Authors: Alexander Styhre

1st Edition

0367754568, 978-0367754563

More Books

Students also viewed these Finance questions

Question

4. Are there any disadvantages?

Answered: 1 week ago

Question

3. What are the main benefits of using more information technology?

Answered: 1 week ago

Question

start to review and develop your employability skills

Answered: 1 week ago