Whipporwill Incorporated's net income. for the most recent year was $15,950. The tax rate was 24 percent. The firm paid $3,880 in total interest expense and deducted $5,120 in depreciation expense. What was the company's cash coverage ratio for the year? Round your answer to 2 decimal places.

Whipporwill Incorporated's net income. for the most recent year was $15,950. The tax rate was 24 percent. The firm paid $3,880 in total interest expense and deducted $5,120 in depreciation expense. What was the company's cash coverage ratio for the year? Round your answer to 2 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 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Solve this problem

Whipporwill Incorporated's net income.
for the most recent year was $15,950. The
tax rate was 24 percent. The firm paid
$3,880 in total interest expense and
deducted $5,120 in depreciation
expense. What was the company's cash
coverage ratio for the year? Round your
answer to 2 decimal places.

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