Using the income statement for Times Mirror and Glass Co., compute the following ratios: TIMES MIRROR AND GLASS Co. Income Statement Sales Cost of goods sold Gross profit Selling and administrative expense Lease expense Operating profit* Interest expense Earnings before taxes Taxes (30%) Earnings after taxes *Equals income before interest and taxes. Interest coverage a.Compute the interest coverage ratio. (Round your answer to 2 decimal places.) times Fixed charge coverage $ 223,000 130,000 $ 93,000 44,000 19,100 $ 29,900 10,600 $ 19,300 7,720 $ 11,580 b.Compute the fixed charge coverage ratio. (Round your answer to 2 decimal places.) times

Using the income statement for Times Mirror and Glass Co., compute the following ratios: TIMES MIRROR AND GLASS Co. Income Statement Sales Cost of goods sold Gross profit Selling and administrative expense Lease expense Operating profit* Interest expense Earnings before taxes Taxes (30%) Earnings after taxes *Equals income before interest and taxes. Interest coverage a.Compute the interest coverage ratio. (Round your answer to 2 decimal places.) times Fixed charge coverage $ 223,000 130,000 $ 93,000 44,000 19,100 $ 29,900 10,600 $ 19,300 7,720 $ 11,580 b.Compute the fixed charge coverage ratio. (Round your answer to 2 decimal places.) times

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Current Ratio of a Company is 2.4: 1 and its Current Liabilities are 2,00,000. Subsequently, it sold goods costing 1,00,000 at a profit of 40%, half of which was on Credit. Current ratio will be: a) 3.1:1 b) 2.6: 1 c) 2.4:1 d) 2.5:1
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3
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Please answer very fast then i ll upvote Calculate EBIT. Revenue 1,061,751.0 Cost of sales 690,135.0 Selling, general and administration 53,087.0 Other income 11,796.0 Operating income 330,325.0 Interest expense 19,874.0 Profit before tax 310,451.0 Tax expense 46,500.0 Net income 263,951.0 The footnotes mention the following: Cost of sales includes inventory write off costs 39,677.0 Cost of sales includes distribution costs 120,458.0 SG&A includes corporate restructuring expenses 15,570.0 Responses 385,572.0 275,078.0 330,325.0 506,030.0
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