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I need your help asap Cash Coverage, Inc. had net sales of $800,000 last year, and increased its retained earnings by $75,000 for the year
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Cash Coverage, Inc. had net sales of $800,000 last year, and increased its retained earnings by $75,000 for the year after paying a dividend of $2 per share on 40,000 outstanding shares. The tax rate for the company is 40%. The company had cost of goods sold of $300,000 and its accumulated depreciation increased by $150,000. What is its cash coverage ratio?
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