Business, 01.07.2020 21:01 jabraeshaw
Times-Interest-Earned Ratio The Morris Corporation has $250,000 of debt outstanding, and it pays an interest rate of 8% annually. Morris's annual sales are $1.25 million, its average tax rate is 35%, and its net profit margin on sales is 5%. If the company does not maintain a TIE ratio of at least 6 to 1, its bank will refuse to renew the loan and bankruptcy will result. What is Morris's TIE ratio
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Times-Interest-Earned Ratio The Morris Corporation has $250,000 of debt outstanding, and it pays an...
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