Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In the past year, TVG had revenues of $3.03 million, cost of goods sold of $2.53 million, and depreciation expense of $178,640. The firm has
In the past year, TVG had revenues of $3.03 million, cost of goods sold of $2.53 million, and depreciation expense of $178,640. The firm has a single issue of debt outstanding with book value of $1.03 million on which it pays an interest rate of 8%. What is the firms times interest earned ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Times interest earned ? |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started