Answered step by step
Verified Expert Solution
Question
1 Approved Answer
This year ABC Company had $437,102 of sales, $369,600 of operating costs (including depreciation), and $12,607 of interest expenses. The company also paid $52,836 of
This year ABC Company had $437,102 of sales, $369,600 of operating costs (including depreciation), and $12,607 of interest expenses. The company also paid $52,836 of dividends. Its corporate tax rate is 30%. What was the company's times-interest-earned ratio? (Round your answer to two decimal places of a whole number, e.g., X.xx.)
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