P7.8 The following data have been gathered from the financial statements of HiFly Corporation: 2009 2010 Operating
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P7.8 The following data have been gathered from the financial statements of HiFly Corporation: 2009 2010 Operating profit $550,000,000 $600,000.000 Interest expense 200,000,000 250,000,000 Taxes 126,000,000 126,000,000 Net profit 224,000,000 224,000,000 Calculate the times interest earned ratios for 2009 and 2010. Is the company more or less able to meet its interest payments in 2010 when measured this way?
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Fundamentals Of Investing
ISBN: 9780136117049
11th Edition
Authors: Lawrence J. Gitman, Michael D. Joehnk, Scott B. Smart, Scott J. Smart
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