Ruby Corp\'s sales last year were $435,500, its operating costs were $350,000, a

Question

Ruby Corp's sales last year were $435,500, its operating costs were $350,000, and its interest charges were $10,000. What was the firm's times interest earned (TIE) ratio? (10p) a. 8.29 b. 8.42 c. 8.55 10) Rand Corp's stock price at the end of last year was $40.00, and its book value per share was $24.50. What was its Market/Book ratio? (10p) a. 1.33 b. 1.48 c. 1.63 11) Maple Furniture recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. This action had no effect on the company

Explanation / Answer

$435,500 - $350,000 = $85.500

$85,500 / $10,000 = 8.55

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