Sherwood Inc.'s net income for the most recent year was $13,168. The tax rate was 34 percent.

Question:

Sherwood Inc.'s net income for the most recent year was $13,168. The tax rate was 34 percent. The firm paid $3,605 in total interest expense and deducted $2,382 in depreciation expense. What was the cash coverage ratio for the year?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Fundamentals of corporate finance

ISBN: 978-0073382395

9th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

See More Books

Question Posted: Dec 16, 2016 01:41 PM

See More Questions

Delectable Turnip, Inc.'s, net income for the most recent year was $7,638. The tax rate was 34 percent. The firm paid $3,816 in total interest expense and deducted $4,873 in depreciation expense....
Panda Inc.'s net income for the most recent year was $9,620. The tax rate was 34 percent. The firm paid $2,380 in total interest expense and deducted $3,170 in depreciation expense. What was the...
Calculating the Cash Coverage Ratio Kat Inc.s net income for the most recent year was $10,157. The tax rate was 34 percent. The firm paid $3,405 in total interest expense and deducted $2,186 in...
The following information has been extracted from the trial balance of M/s Randhir Transport Corporation. Adjustments 1. Closing stock for the year was Rs. 35,500. 2. Depreciation charged on plant...
The following information for Valdez Industries was taken from the companys financial statements (amounts in thousands): Instructions: 1. Compute he inventory turnover and the number of days sales in...
The compound hexaazaisowurtzitane is one of the highest- energy explosives known (C & E News, p. 26, Jan. 17, 1994). The compound, also known as CL-20, was first synthesized in 1987. The method of...
How might a hacker access and manipulate a digital device for illegal purposes? Are the Internet of Things (IoT) devices at risk for hacker access and manipulation?
Sanchez Corporation is considering three long-term capital investment proposals. Relevant data on each project are as follows. Salvage value is expected to be zero at the end of each project....
1. The rate at which a bean plant grows is given by a differentiable function R(t). measured in centimeters per day, where 0 st s 30. A graph of the function R is shown below along with a table of...
The following is the trial balance for Jills Fitness Centre of Etobicoke for December 31, 2013. Given The following adjustment data on December 31: a. Fitness supplies on hand, $900 b. Amortization...
In response to complaints about high prices, a grocery chain runs the following advertising campaign: "If you pay your child $3 to go buy $50 worth of groceries, then your child makes twice as much...
Holliman Corp. has current liabilities of $365,000, a quick ratio of .85, inventory turnover of 5.8, and a current ratio of 1.4. What is the cost of goods sold for the company?
Explain in words the following future-value formula: Fn = P(1 + r)n?
Do you agree or disagree with this statement? Firms minimize costs; thus, a firm earning short-run economic profits will choose to produce at the minimum point on its average total cost curve.
Flexible work schedules are becoming more common in the workplace, with an increasing number of companies adopting new policies to meet a growing demand for this flexibility from todays labor force....
Many countries follow the local/foreigner price discrimination strategy. Why do you think it is unusual in the United States?
What characteristics of a company do you think influence it to use flex time with its workers versus one which has employer-directed irregular hours?
The demand for land is a derived demand. Think of a popular location near your school. What determines the demand for land in that area? What outputs are sold by businesses located there? Discuss the...
a. On October 28, Fairview Construction asked Preston to deliver 6,000 cubic yards of concrete. The job will require driving 8,400 miles and 300 truck hours. What will the price be if Preston follows...
Briefly describe the following types of group life insurance plans: a. Group term life insurance b. Group accidental death and dismemberment insurance (AD&D) c. Group universal life insurance d....
Band Ratings Companies pay rating agencies such as Moodys and S&P to rate their bonds, and the costs can be substantial. However, companies are not required to have their bonds rated; doing so is...
Band Ratings Companies pay rating agencies such as Moodys and S&P to rate their bonds, and the costs can be substantial. However, companies are not required to have their bonds rated; doing so is...
Term Structure what is the difference between the term structure of interest rates and the yield curve?
The Tolar Corporation has 400 obsolete desk calculators that are carried in inventory at a total cost of $576,000. If these calculators are upgraded at a total cost of $100,000, they can be sold for...
Hi-Tek Manufacturing, Incorporated, makes two industrial component parts-B300 and T500. An absorption costing income statement for the most recent period is shown below: Hi-Tek Manufacturing,...
10 Bruce Corporation makes four products in a single facility. These products have the following unit product costs: Direct materials 00:59:10 Direct labor Variable manufacturing overhead Fixed...

Sherwood Inc.'s net income for the most recent year was $13,168. The tax rate was 34 percent.

Question:

Step by Step Answer:

Given data Net income 13168 Tax rate ...View the full answer

Fundamentals of corporate finance

Students also viewed these Corporate Finance questions