Houle Plumbing Products Ltd. reported the following data in 2010 (in billions): 2010Net operating…

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Houle Plumbing Products Ltd. reported the following data in 2010 (in billions): 2010Net operating revenues……………. $29.7Operating expenses………………… 24.7Operating income………………….. 5.0Nonoperating items:Interest expense………………….. 1.61Other……………………………….. (0.1)Net income……………………………. $ 3.3Compute Houle’s times-interest-earned ratio, and write a sentence to explain what the ratio value means. Would you be willing to lend Houle $1 billion? State your reason.View Solution:
Houle Plumbing Products Ltd reported the following data in 2010

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