How would I calculate EBIT with net income if I'm given the tax rate but don't have
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Question:
How would I calculate EBIT with net income if I'm given the tax rate but don't have sales to calculate the tax expense? I need to find the cash coverage ratio which=(EBIT+Depreciation)/Interest Expense
This is the problem:
Titan Inc.s net income for the most recent year was $8,320. The tax rate was 34 percent. The firm paid$1,940 in total interest expense and deducted $2,730 in depreciation expense. What was Titans cashcoverage ratio for the year?
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