Cash coverage inc had net sales of 300000 last year and, Financial Management

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Cash coverage inc had net sales of 300000 last year and

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Cash Coverage, Inc. had net sales of $300,000 last year, and increased its retained earnings by $10,000 for the year after paying a dividend of $2 per share on 10,000 outstanding shares. The tax rate for the company is 40%. The company had cost of goods sold of $175,000 and its accumulated depreciation increased by $25,000. What is its cash coverage ratio?

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Financial Management: Cash coverage inc had net sales of 300000 last year and

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