Greenfield Industries reported an Interest expense of $6,500, Income tax expense of $32,000, and Net income of $95,000. Greenfield's interest coverage ratio is. (Round the final answer to two decimal places.)

Greenfield Industries reported an Interest expense of $6,500, Income tax expense of $32,000, and Net income of $95,000. Greenfield's interest coverage ratio is. (Round the final answer to two decimal places.)

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

See similar textbooks

Related questions

Q: What is the firm's net capital spending for the year of this financial accounting question?

A: Step 1: Define Net Capital SpendingNet Capital Spending (NCS) refers to the total expenditures a…

Q: What would have been the income before income taxes?

A: Concept of Accrued ExpensesAccrued Expenses refer to expenses that have been incurred by a business…

Q: How much was Dev's net income?

A: Explanation of Net Income: Net income is the final profit figure that remains after subtracting all…

Q: What are the company's days sales in receivables?

A: Total sales = Net income / Profit marginTotal sales = $210,000 / 0.091 = $2,307,692.31 Credit sales…

Q: General Accounting

A: Step 1: Define Total Land CostThe Total Land Cost includes all expenditures necessary to acquire the…

Q: Sophia, a single taxpayer, bought her home in Santa Clara 30 years ago for $75,000. She has lived…

A: Step 1:First, calculate the gain on sale: Gain on sale = Selling price - Purchase price…

Q: Determine the cost of goods manufacturing

A: Explanation of Work in Process (WIP): Work in Process represents the cost of partially completed…

Q: Provide answer

A: Explanation of Trial Balance: A trial balance is a bookkeeping worksheet that lists all the accounts…

Q: Morse Company reports a total contribution margin of $112,000 and pretax net income of $16,000 for…

A: Concept of Contribution MarginContribution Margin is the difference between total sales revenue and…

Q: Predetermined overhead rate

A: Explanation of Direct Materials:Direct materials are the raw materials that are directly used in the…

Q: Calculate the return on assets of this financial accounting question

A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a profitability metric that…

Q: What is the opereting cash flow. Provide answer

A: Here's the breakdown:Given:Net Income = $329Sales = $1,340Costs = $740Depreciation = $130Tax Rate =…

Q: Can you help me with accounting questions

A: Step 1: Definition of Net Income After Taxes and InterestNet income after taxes and interest is the…

Q: Accounting question

A: The Dividend Yield measures how much a company pays in dividends relative to its stock price,…

Q: How much overhead cost would be assigned to product?

A: Explanation of Activity-Based Costing (ABC) System: This is a costing method that assigns overhead…

Q: What is the amount of manufacturing overhead incurred by Harrison company in August?

A: Step 1: Definition of Manufacturing Overhead CostManufacturing overhead includes all indirect costs…

Q: Compute standard direct labor rate per hour

A: Explanation of Standard Direct Labor Rate: The standard direct labor rate is the total expected cost…

Q: Help

A: Explanation of Net Income:Net income represents the total earnings of a company after subtracting…

Q: Please need help with this financial accounting question not use ai please don't

A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) measures a company's efficiency…

Q: Problem related general Accounting

A: Concept of Owner's EquityOwner's equity represents the owner's financial interest in a business,…

Q: choose best answer

A: Step 1: Definition of Prepaid InsurancePrepaid Insurance refers to the amount paid for an insurance…

Q: 5 POINTS

A: Explanation of Raw Materials Inventory: Raw materials inventory represents the cost of materials…

Q: Operating cash flow

A: The question requires the determination of the operating cash flow using the top down approach. The…

Q: provide correct answer general accounting

A: Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) represents…

Q: I want to correct answer general accounting question

A: Step 1: Identify the Projected Benefit Obligation (PBO) at the end of 2024From the data given, the…

Q: Express the answer with 3 decimal places

A: Step 1 The coefficient of variation (CV) is calculated using the formula: CV=μσ ←(1) where:σ is…

Q: Please give the answer general accounting

A: 1. Ending retained earningsFormula:Ending retained earnings = Retained beginning balance + Net…

Q: ABC is an all-equity firm that has 44,200 shares of stock outstanding at a market price of $14.70…

A: ABC, an all-equity firm, currently has 44,200 shares outstanding, each priced at $14.70, resulting…

Q: Don't use ai given answer accounting questions

A: Step 1: Definition of Overhead Cost ReductionOverhead costs include expenses that are not directly…

Q: Get correct answer this general accounting question not use ai

A: Step 1: Definition of Production Cost per Unit under Absorption CostingProduction Cost per Unit…

Q: What is the total fixed cost when nothing is produced?

A: Explanation of Fixed Costs: Fixed costs are business expenses that remain constant regardless of…

Q: Answer this without using Chatgtp or AI

A: The coefficient of variation (CV) is a statistical measure that expresses the relative variability…

Q: Overhead should

A: Step 1: Definition of Applied OverheadApplied overhead refers to the indirect manufacturing costs…

Q: correct answer please

A: Step 1: Definition of Accounts Receivable ManagementAccounts receivable management refers to the…

Q: can you please solve this

A: Step 1: Definition of Gross Profit PercentageGross profit percentage is a financial metric that…

Q: Determine the equipment units of production

A: Explanation of Equivalent Units of Production (EUP):Equivalent units of production (EUP) represent…

Q: Manufacturing overhead is applied based on budgeted direct labor hours. The direct labor budget…

A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a cost allocation rate…

Q: What are the revenue for division L?

A: Step 1: Formula Revenues = Income from operations+ Service department charges + Operating expenses…

Q: Right Answer

A: Concept of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)EBITDA is a…

Q: What is the amount of taxes the company paid in 2008 ?

A: Step 1: Definition of Taxable Income and Net Operating Loss (NOL) CarryforwardTaxable income is the…

Q: A broadcasting company failed to make a year-end accrual of $350,000 for fines due to a violation of…

A: Concept of Accrued ExpensesAccrued Expenses are obligations that a company has incurred but has not…

Q: don't use ai solution given answer financial accounting

A: Dividend Yield is calculated as:Dividend Yield = (Annual Dividend per Share / Current Stock Price) x…

Q: Gnomes R Us just paid a dividend of $3.22 per share. The company has a dividend payout ratio of 64…

A: Earnings Per Share (EPS):= Dividend per share / Dividend payout ratio= $3.22 / 0.64EPS = $5.03 Stock…

Q: What is the net income of this general accounting question?

A: Step 1: Definition of Net IncomeNet Income is the total profit a company earns after deducting all…

Q: What is the average collection period of this financial accounting question?

A: Customers who take the discount: These customers pay within 15 days.Customers who don't take the…

Q: What is the variable overhead efficiency variance for the month?

A: Explanation of Labor Standards: Labor standards are predetermined measurements established by Kanak…

Q: What is Sophia's taxable gain on the sale?

A: Step 1: Given Value for Calculation Selling Price = s = $460,000Purchase Price = p = $75,000 IRS…

Q: Give me ans

A: The question requires the determination of the sales for the month. Monthly sales refer to the total…

Q: TICA Corporation had sales of $72 million this year. Its accounts receivable balance averaged $2.4…

A: Explanation of Days Sales Outstanding (DSO): Days Sales Outstanding is a financial metric that…

Q: Need correct answer general accounting question

A: Step 1: Define Incremental Profit or LossIncremental profit or loss is the change in profit…

Question

100%

What is the interest coverage ratio of this financial accounting question?

Greenfield Industries reported an Interest expense of $6,500, Income
tax expense of $32,000, and Net income of $95,000. Greenfield's
interest coverage ratio is. (Round the final answer to two decimal
places.)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Merryweather Corporation reported net income of $150,000, income before taxes of$240,000 and interest expense of $32,000. What is the times-interest-earned ratio? (Roundyour final answer to two decimal places.)a. 4.69b. 5.69c. 7.50d. 8.50
Merryweather Corporation reported net income of $150,000, income before taxes of$240,000 and interest expense of $32,000. What is the times-interest-earned ratio? (Roundyour final answer to two decimal places.)a. 4.69b. 5.69c. 7.50d. 8.50
SDJ, Inc., has net working capital of $3,550, current liabilities of $5140, and inventory of $4,690. What is the current ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.
A company's income before interest expense and income taxes is $425,000, and its interest expense is $115,000. Its times interest earned ratio is: Multiple Choice 7.40 0.27 343 2.43 3.70
How do I calculae the times interest earned ratio?
A company's interest expense is $8,000. Its income before interest expense and income taxes is $32,000. Its net income is $9,600. The company's times interest earned ratio equals: Select one: Oa. 0.25. O b. 0.30. O c. 0.83. O d. 3.33. O e. 4.0.
SDJ, Inc., has net working capital of $3,550, current liabilities of $5180, and inventory of $4,690. What is the quick ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
Rosewood Company had current assets of $612, current liabilities of $393, total assets of $722. and long-term liabilities of $200. What is Rosewood's debt ratio? (Round your final answer to two decimal places.) 1.56 0.54 O0.82 0.28
During the current year, Sokowski Manufacturing earned income of $459,595 from total sales of $6,290,139 and average capital assets of $10,730,071. What is the sales margin? Round to the nearest hundredth, two decimal places and submit the answer in a percentage.
A firm has net income before interest and taxes of $ 193,000 and interest expense of $28, 100. What is the times interest - earned ratio? Note: Round your answer to 2 decimal places. -
SDJ Inc., has net working capital of $1165, current liabilities of $6,775 and inventory of $1185 a What is the current ratio? b What is the quick ratio? (do not round intermediate calculations and round your answer to 2 decimal places
Founders, Inc. has a current ratio of 1.54. If they have $538,170 in Current Assets and $378,700 in Inventory, what is their Quick Ratio? (round to the nearest two decimal places; 1.037 = 1.04)