In the past year, TVG had revenues of $3.10 million, cost of goods sold of $2.60 million, and depreciation expense of $79,250. The firm has a single issue of debt outstanding with book value of $1.10 million on which it pays an interest rate of 9%. What is the firm’s times interest earned ratio? (Round your answer to 2 decimal places.)

Q: Selzer Inc. sells all its merchandise on credit. It has a profit margin of 4 percent, days sales…

A: The return on equity(ROE) measures the financial performance of the company. It measures the…

Q: This year, FCF Inc. has earnings before interest and taxes of $10,180,000, depreciation expenses of…

A: Free cash flow = EBIT*(1-tax) + Deprication - capital expenditure - Increase in Working capital

Q: Barts Industries, Inc., has total assets as follows: $50,000 in cash, $15,000 in short-term…

A: Solution..     Cash = $50,000  Short term investment = $15,000  Net receivable = $120,000  Inventory…

Q: . Great Products, Inc. reported the following on the company’s income statement in two recent years:…

A: Time Interest Earned Ratio: When a company's current revenue exceeds its debt commitments, the time…

Q: Crystal Oil has $9 million in accounts payable, $1.8 million in salaries and taxes payable, and…

A: Payables deferral period of a company, is nothing but the average time period taken to pay the…

Q: Ching Chong Bank has the following data for the first month of the current year: Interest,…

A: Gross receipt refers to the amount of income generated by the firm or company or institution by…

Q: Lauryn’s Doll Co. had EBIT last year of $47 million, which is net of a depreciation expense of $4.7…

A: Given, EBIT $47 million Depreciation $4.7 million capital expenditures $7.25 million Net working…

Q: What is the acid-test ratio?

A: Acid test ratio is a financial ratio that helps an entity to assess if it is able to meet its…

Q: Red Company has total interest charges of $10,000 per year, sales of $1 million, a tax rate of 40…

A: Interest expenses = $10,000 Sales = $1,000,000 Tax rate = 40% Net profit ratio = 6% Profit before…

Q: The newspaper reported last week that Tisch Enterprises earned $34.17 million this year. The report…

A: Calculation of Earnings Growth and Next Year’s Earnings:The earnings growth is 13.50%.

Q: ABC Company has sales of $500,000, COGS of $250,000, operating expenses of $200,000, net income of…

A: Formula: Times interest ratio = Operating income / interest expense

Q: Plank’s Plants had net income of $6,000 on sales of $70,000 last year. The firm paid a dividend of…

A: Return on equity is a ratio which states about the share of earnings generated through the equity or…

Q: Ticks Inc. has a total asset balance composed of 30% current and 70% non-current. The total amount…

A: calculation of total assets of the company... As per Equation Total of Assets=Total of…

Q: In recent year Palestine Corporation had a net income of $12,500, interest expense of $2,500, and a…

A: Given: Net income = $12,500 Interest expense = $2,500 Times interest earned = 9

Q: . What was the depreciation expense?

A: Information Provided: Annual Revenue = $37,800 COGS = $23,200 Administrative expenses = $6300…

Q: Last year the Rondoelea Products Company had $142 million in annual sales and a net profit margin…

A: EBIT = [ (Sales x net profit margin) / (1 - tax rate) ] + (Amount of debt * Interest rate) EBIT =…

Q: McShane Corporation has sales of $300,000, a gross profit margin of 35%, operating expenses of…

A: The time interest earned ratio is the ratio that provides the ability of the company to pay of its…

Q: In 2016, the Allen corporation had sales of $67 million, total assets of $42 million, and total…

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Q: A Company recently reported $15,500 of sales, $8,250 of operating costs other than depreciation, and…

A: Given: Sales $15,500 Operating Costs $8,250 Depreciation $1,750.  It had $9,000 of bonds outstanding…

Q: Blue Co. is funded by both debt and equity with a total debt to total asset ratio of 40%. If the…

A: Debt to total assets  = 40% That means total assets = 100% Total assets = Equity + Debt 100% =…

Q: During the year, the Senbet Discount Tire Company had gross sales of $1.23 million. The company’s…

A: The cash flow that is generated by a company from its primary business operation is term as the…

Q: Vanderheiden Press Inc. and Herrenhouse PublishingCompany had the following balance sheets as of…

A: The Vanderheiden Press Inc. and Herrenhouse Publishing with the balance sheets as of December 31,…

Q: A company’s income statement shows interest expense of $5 million, sales revenue of $50 million,…

A: Interest coverage ratio is used to find how easily a company can pay its interest on outstanding…

Q: Cecil, Inc. has sales of $682,100. Earnings before interest and taxes is equal to 20 percent of…

A: Profit Margin = Net Profit /Sales

Q: During the year, the Senbet Discount Tire Company had gross sales of $1.24 million. The company’s…

A: The term net income refers to the revenue or income left with the company after deducting all the…

Q: Lynd Company has cash sales of P2,500,000 and net sales of P3,450,000, total assets of P1,240,000…

A: Times-interest earned = Earnings before interest and tax / Interest expense where, Earnings before…

Q: The H.R. Pickett Corp. has $500,000 of debt outstanding, and it pays an annual interest rate of 10%.…

A: The times earned interest ratio is comparing the earnings before interest and taxes to interest…

Q: Crystal Oil has $9 million in accounts payable, $1.8 in saleries and taxes payable, and $10.4 in…

A: Payables deferral period is a measure of delay between when a firm receives a bill and pays towards…

Q: The Brenmar Sales Company had a gross profit margin​ (gross profits÷​sales) of 34 percent and…

A: Average collection period is period required to receive all accounts receivable that means money…

Q: Orono Corp.'s sales last year were $575,000, its operating costs were $362,500, and its interest…

A: As per formula Times interest earned (TIE) ratio = (Sales-Operating cost)/Interest expenses   Where…

Q: Golden Cumulus Corp., a commodities trading company, reported interest expense of $19 million and…

A:

Q: Sidewinder, Inc., has sales of $674,000, costs of $338,000, depreciation expense of $83,000,…

A: Retained earnings are the excess amount of revenue after deducting all the expenses and paying out…

Q: In its most recent financial statements, Del-Castillo Inc. reported $35 million of net income and…

A: Dividend: It is the  distribution of profits  to its investors once  profit is earned by a…

Q: OCW Corporation has current assets totaling $15 million and a current ratio of 2.5 to 1. What is…

A: Given: OCW Corporation, Current assets = $15 million Current ratio = 2.5:1 To compute: Computation…

Q: Loomis, Inc. reported the following on the company's income statement in two recent years: Current…

A:

Q: The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75…

A: The current ratio is the comparison of the current assets and the current liabilities of the…

Q: During the year, the XYZ Company paid $300,000 in interest. The company is in the 25% tax bracket.…

A: Free cash flow for the company refers to the net amount available in the form of cash and cash…

Q: Easter Egg and Poultry Company has $1,760,000 in assets and $608,000 of debt. It reports net income…

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Q: Oregon Office Supply had 24,000,000 in sales last year. The company’s net income was 400,000, its…

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Q: Marine Outlets, Inc. had $ 14 million in sales last year, COGS of $ 8 million, depreciation expense…

A: In the given question we need to compute the Firm's Net income from the information given.

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A: Sales = 15,300 Tax Rate = 35% Interest Expense = 280,000 Cost of goods sold = 57% of Sales Operating…

Q: Last year, Roswin Robotics have $5,000,000.00 in operating income (EBIT). Its depreciation expense…

A: Net Operating Working Capital = Operating Current Assets - Operating Current Liabilities Net Working…

Q: In the recent year Hill Corporation had net income of $140,000, interest expense of $40,000, and tax…

A: Net Income before interest and taxes = Net income + Interest expense + Tax expense Net Income before…

Q: Pop Evil, Inc.'s net income for the most recent year was $22,817. The tax rate was 21 percent. The…

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Q: Cecil, Inc. has sales of $682,100. Earnings before interest and taxes is equal to 20 percent of…

A: Profit margin: This ratio indicates the percentage of sales which converted into profit. It is…

Q: The newspaper reported last week that SunRise Enterprises earned $34.19 million this year. The…

A: In this case, first, we have to calculate the growth rate & then we would calculate the earnings…