Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the past year, TVG had revenues of $2.90 million, cost of goods sold of $2.40 million, and depreciation expense of $110,000. The firm has

In the past year, TVG had revenues of $2.90 million, cost of goods sold of $2.40 million, and depreciation expense of $110,000. The firm has a single issue of debt outstanding with book value of $1.20 million on which it pays an interest rate of 10%. What is the firms times interest earned ratio? (Round your answer to 2 decimal places.)

Times interest earned

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

Personal Finance Version 3.1

Authors: Rachel S. Siegel

3rd Edition

1453334807, 978-1453334805

More Books

Students also viewed these Finance questions