Question
Whipporwill, Incorporateds, net income for the most recent year was $9,551. The tax rate was 23 percent. The firm paid $4,695 in total interest expense
Whipporwill, Incorporateds, net income for the most recent year was $9,551. The tax rate was 23 percent. The firm paid $4,695 in total interest expense and deducted $5,162 in depreciation expense.
a. What was the companys taxable income for the year?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
b. What was the companys EBIT for the year?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
c. What was the companys cash coverage ratio for the year?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
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