The Dockside Inn Has Net Income for the Most Recent

question 7

Multiple Choice

The Dockside Inn has net income for the most recent year of $8,450.The tax rate was 35 percent.The firm paid $1,300 in total interest expense and deducted $1,900 in depreciation expense.What was the cash coverage ratio for the year?

• A)10.48 times
• B)11.48 times
• C)12.39 times
• D)12.46 times
• E)13.07 times

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Definitions:

Rich

refers to individuals or entities possessing substantial wealth, assets, or financial resources, enabling a lifestyle of comfort and luxury.

Capable Guardians

Persons or entities that are effective in preventing crime by their mere presence or by taking protective actions.

Naive Trust

entails a form of unquestioning trust or confidence in people or situations without sufficient skepticism or evidence.

Control Theory

suggests that social and personal relationships and commitments help individuals resist engaging in deviant or criminal behavior.