Question
Lucas Company has provided the following information: Cash flow from operating activities, $362,500 Net income, $311,000 Interest expense, $33,750 Interest cash payments, $22,500 Income tax
Lucas Company has provided the following information:
Cash flow from operating activities, $362,500
Net income, $311,000
Interest expense, $33,750
Interest cash payments, $22,500
Income tax payments, $265,000
Income tax expense, $248,500
Using the modified method discussed in the text, what was Lucas'cash coverage ratio?
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Accounting Information System
Authors: James A. Hall
7th Edition
978-1439078570, 1439078572
