(Times-Interest-Earned Ratio)The Morris Corporation has $250,000 of debt outstanding, and it pays an

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(Times-Interest-Earned Ratio)

The Morris Corporation has $250,000 of score ungathered, and it pays an

improvement rebuke of 8% year-by-year. Morris's annual sales are $1.25 pet, its middle tax rebuke is 30%, and its net improvement loophole on sales is 6%. If the troop does not maintain a TIE harmony of at smallest 6 to 1, its bank allure offal to furbish the mortgage and failure allure outcome. What is Morris's TIE harmony? Do not spherical middle calculations. Spherical your rejoinder to two decimal places.

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