Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Nimitz Rental Company had depreciation expenses of $109,000, interest expenses of $93,000, and an EBIT of $1,112,000 for the year ended June 30, 2013. What
Nimitz Rental Company had depreciation expenses of $109,000, interest expenses of $93,000, and an EBIT of $1,112,000 for the year ended June 30, 2013. What are the times interest-earned and cash coverage ratios for this company? (Round answers to 1 decimal place, e.g.12.5.)
Nimitzs times-interest-earned is times and its cash coverage ratio is times. |
Click if you would like to Show Work for this question: | Open Show Work |
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