PVA Inc's net income for the most recent year was $16,085. The tax rate was 40 percent. The firm paid $3,896 in total interest expense and deducted $2,575 in depreciation expense. What was the cash coverage ratio for the year?

PVA Inc's net income for the most recent year was $16,085. The tax rate was 40 percent. The firm paid $3,896 in total interest expense and deducted $2,575 in depreciation expense. What was the cash coverage ratio for the year?

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 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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PVA Inc's net income for the most recent year was $16,085.
The tax rate was 40 percent. The firm paid $3,896 in total
interest expense and deducted $2,575 in depreciation
expense.
What was the cash coverage ratio for the year?

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