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Question - The Morrit Corporation has $960,000 of debt outstanding, and it pays an interest rate of 9% annually. Morrit's annual sales are $6 million, its average tax rate is 25%, and its net profit margin on sales is 4%. If the company does not maintain a TIE ratio of at least 3 to 1, then its bank will refuse to renew the loan, and bankruptcy will result. What is Morrit's TIE ratio? Do not round intermediate calculations. Round your answer to two decimal places.
the following are preliminary financial statements for black co. and blue co. for the year ending december 31 2009.
the equipment has been depreciated using the sum-of-the-years-digits method for the first 3 years for financial
He is entitled to a 12 percent estimated premium discount. What is Don's estimated annual premium for his workers compensation policy
performance castings inc. casts blades for turbine engines. within the casting dept alloy is the first melted in a
Explain why the Canadian Government should and should not play the role of guardian of business in this way. Identify the nature of economic
During each of the next two years, warner declared and paid cash dividends of $0.85 per share, and its net income was $72,000 and $67,000 for 2007 and 2008, respectively. The January 12, 2009, entry to record the sale of 3,000 shares of warner com..
What is the present value of an infinite annuity of $3,000, which provides the first payment in exactly 7 years? Your opportunity cost of funds is 9%.
Of the $25,000 initial cost, $20,000 is equipment and $5,000 is invested working capital. What would be the internal rate of return for the new machine?
Briefly explain the concept of integrated reporting. Critical evaluate four key attributes of integrated reporting which would enhance the capabilities
Using absorption costing income statements how would you prepare a budgeted income statement
Cheney Company sold a 20-ton mechanical draw press for $60,000. Prepare the journal entry to record the disposition
Two-fifth of the supplies will be used for personal purposes while the remaining is for use by AH. Three-fifth of the liability is arranged to be settled
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