Rousseau Corporation has the following Statement of Income for the year ended 
Instructions
Calculate the interest-coverage ratio for Rousseau Corporation for May31, 2020. What does this mean?
Definitions:
Clearinghouse
An intermediary body that facilitates the exchange of payments, securities, or derivatives transactions among its members.
Payor Bank
A bank that is responsible for paying a check or draft on behalf of a customer, typically the bank where the check writer has an account.
Depository Bank
A financial institution that holds and manages securities (stocks, bonds, etc.) for its clients and may also offer other banking services.
Payor Bank
A bank that is responsible for paying a check or draft presented for payment against an account.
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