Lucas Company has provided the following information: • Cash flow from operating activities,$360,000
• Net income,$306,000
• Interest expense,$30,000
• Interest cash payments,$20,000
• Income tax payments,$240,000
• Income tax expense,$246,000
-
Using the modified method discussed in the text,what was Lucas' cash coverage ratio?
A)21.0
B)31.8
C)21.2
D)31.0

Question

Quizplus · Accepted Answer

The Answer of Lucas Company has provided the following information: • Cash flow from operating activities,$360,000
• Net income,$306,000
• Interest expense,$30,000
• Interest cash payments,$20,000
• Income tax payments,$240,000
• Income tax expense,$246,000
-
Using the modified method discussed in the text,what was Lucas' cash coverage ratio?
A)21.0
B)31.8
C)21.2
D)31.0

Lucas Company Has Provided the Following Information: • Cash Flow