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Using the information below for Galaxy Interiors, what is the coverage ratio for 2019? Income Statement for 2019 ($ in millions) Net sales $21, 415
Using the information below for Galaxy Interiors, what is the coverage ratio for 2019? Income Statement for 2019 ($ in millions) Net sales $21, 415 Cost of goods sold 16,408 Depreciation 1,611 Earnings before interest & taxes 3,396 Interest expense 1,282 740 Net income $ 1,374 Taxes Balance Sheet ($ in millions) 2018 2019 2018 2019 Cash $ 668 $ 297 Payables $ 1,694 $1,532 Receivables 1,611 1,527 Note Payable 2,500 0 Inventory 3,848 2,947 Subtotal 4,194 1,532 Subtotal 6,127 4.771 Long-term debt 9,800 10,650 Net fixed assets 17,489 17,107 Common stock 7,500 7,000 Retained earn. 2,122 2,696 Total Assets 23,616 21,878 Total liab/equity 23,616 21,878 Earnings before interest & taxes 3,396 Interest expense 1,282 Taxes 740 Net income $ 1,374 Balance Sheet ($ in millions) 0 2018 2019 2018 2019 Cash $ 668 $ 297 Payables $ 1,694 $1,532 Receivables 1,611 1,527 Note Payable 2,500 Inventory 3,848 2,947 Subtotal 4,194 1,532 Subtotal 6,127 4,771 Long-term debt 9,800 10,650 Net fixed assets 17,489 17,107 Common stock 7,500 7,000 Retained earn. 2,122 2,696 Total Assets 23,616 21,878 Total liab/equity 23,616 21,878 1.423 3.328 01.072 3.906 0.232
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