MUMC Corp's sales last year were $2,510,000, its operating costs were $1,362,500, and its interest charges...
MUMC Corp's sales last year were $2,510,000, its operating costs were $1,362,500, and its interest charges were $120,500. What was the firm's times-interest-earned (TIE) ratio?
Homework Answers
EBIT=Sales-Operating costs
=(2,510,000-1,362,500)=$1147500
TIE=EBIT/interest
=$1147500/$120500
which is equal to
=9.52(Approx).
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