The financial information below presents selected information from the financial statements of Johnson Tools,Inc.for the year ended December 31,2008.
Calculate the:
A.Times interest earned ratio
B.Capital acquisitions ratio
C.Quality of income ratio
Comment on each of these ratios.
Sales revenue Cost of goods sold Interest expense Net income Accounts receivable 12/31/07 Accounts payable 12/31/07 Cash paid for income taxes Cash flows from operating activities Cash flows from financing activitics $43,84335,6612,7841,2462,8956,5435203,797(2,702) Amortization expense Selling, general & administrative expenses Income tax expense Gross profit Accounts receivable 12/31/08 Accounts payable 12/31/08 Interest paid to creditors Cash paid for property, plant, and equipment Cash flows from investing activitics $8832,7844858,1822,6367,5192,5003,100(2,260)
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