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I need the answer for fixed charge coverage please. Thanks The financial statements for the Snider Corporation is given below. $ 50,000 20,999 160,900 299,999
I need the answer for fixed charge coverage please. Thanks
The financial statements for the Snider Corporation is given below. $ 50,000 20,999 160,900 299,999 439,999 69,999 SNIDER CORPORATION Balance Sheet December 31, 20XX Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Investments plant and equipment Accumulated amortization Net plant and equipment Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Shareholders' equity Preferred stock 600,000 199,000 419,999 $ 990,990 $ 99,909 78,888 10,980 176,988 150,000 320,000 100,000 410,000 $ 900,000 $ 90,000 70,000 10,000 170,000 Net plant and equipment Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Shareholders' equity Preferred stock Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 150,000 320,000 100,000 270,000 210,000 580,000 $ 900,000 SNIDER CORPORATION Income Statement Year Ending December 31, 20XX Sales (on credit) Cost of goods sold Gross profit Selling and administrative expenses Operating profit (EBIT) Interest expense $1,980,000 1, 289,000 790,000 475,000 225,000 25,000 Cost of goods sold Gross profit Selling and administrative expenses* Operating profit (EBIT) Interest expense Earnings before taxes (EBT) Taxes Earnings after taxes (EAT) 1,280,000 700,000 475,000 225,000 25,000 200,000 80,000 $ 120,000 "Includes $35,000 in lease payments. Calculate the following 13 basic ratios: (Use 365 days in a year. Do not round 2 decimal places.) a. Profitability ratios 6.06 % Profit margin Return on assets (Investment) Return on equity 13.33 se 20.69 de Accounts payable turnover 14.22 9.9 Inventory turnover based on sales Capital asset turnover 4.83 Total asset turnover 2.2 c. Liquidity ratios Current ratio 2.53 X Quick ratio 1.35 d. Debt utilization ratios Debt to total assets 35.56 % Times interest earned 9 Fixed charge coverage 1.45 XStep by Step Solution
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