Question
In the past year, TVG had revenues of $3.85 million, cost of goods sold of $3.48 million, and depreciation expense of $206,000. The firm has
In the past year, TVG had revenues of $3.85 million, cost of goods sold of $3.48 million, and depreciation expense of $206,000. The firm has a single issue of debt outstanding with book value of $1.4 million on which it pays an interest rate of 7.7%. What is the firms times interest earned ratio? (Round your answer to 2 decimal places.)
Times interest earned?
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Corporate Financial Management
Authors: Julian Ralph Franks, Harry H. Scholefield
2nd Edition
0566020548, 978-0566020544
