Question
SmartCo. has the following selected information for 20X6 and 20X7: 20X7 20X6 Interest expense $ 42,700 $ 52,800 Income taxes $ 207,500 $ 212,300 Cash
SmartCo. has the following selected information for 20X6 and 20X7:
| 20X7 | 20X6 | |||||
| Interest expense | $ | 42,700 | $ | 52,800 | ||
| Income taxes | $ | 207,500 | $ | 212,300 | ||
| Cash flow from operations | $ | 580,100 | $ | 872,800 | ||
| Finance lease payments | $ | 299,800 | $ | 625,800 | ||
| Principal repayments | $ | 168,100 | $ | 272,400 | ||
The company pays taxes at the rate of 22%.
Required: a. Calculate the times-debt-service-earned ratio for 20X6 and 20X7. (Use 365 days in a year. Do not round your intermediate calculations and round your final answers to 1 decimal place.)
Times-debt-service-earned: 2017 ? 2016?
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Audit Of EPAs Fiscal 2013 And 2012 Consolidated Financial Statements
Authors: U.S. Environmental Protection Agency
1st Edition
1500696218, 978-1500696214
