The Lancaster Corporation's income statement is given below.SalesCost of goods soldGross profitFixed charges (other than interest)Income before interest and taxesInterestIncome before taxesTaxes (35%)Income after taxesLANCASTER CORPORATIONa. What is the times-interest-earned ratio?Note: Round your answer to 2 decimal places.Times interest earnedFixed charge coveragetimesb. What would be the fixed-charge-coverage ratio?Note: Round your answer to 2 decimal places.times$ 223,000155,000$ 68,00033,100$ 34,90013,400$ 21,5007,525$ 13,975

Ratio analysis refers to the method used for analyzing the position of liquidity, solvency,…

Answered: The Lancaster Corporation's income…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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