The following data applies to a firm: Interest charges=P50,000.00; Sales = P300,000.00; Tax Rate=P25%; Net Profit Margin=3%. What is the firm's time interest covered ratio?  a. 0.24 b. 0.54 c. 1.04 d. 1.24 e. 1.44

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The following data applies to a firm: Interest charges=P50,000.00; Sales = P300,000.00; Tax Rate=P25%; Net Profit Margin=3%. What is the firm's time interest covered ratio? 
a. 0.24
b. 0.54
c. 1.04
d. 1.24
e. 1.44

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