Selected Data Taken from the 2014 Financial Statements of Phillips

Selected data taken from the 2014 financial statements of Phillips Card Company, Inc. are as follows (in millions). $$\begin{array} { l r } \text { Net sales } & \$ 295.9 \\\text { Current liabilities, February 28, } 2013 & 39.5 \\\text { Current liabilities, February 28, 2014 } & 47.5 \\\text { Net cash provided by operating activities } & 17.0 \\\text { Total liabilities, February 28, 2013 } & 64.2 \\\text { Total liabilities, February 28, } 2014 & 71.2 \\\text { Capital expenditures } & 2.6 \\\text { Cash dividends } & 6.5\end{array}$$ Instructions
Compute these ratios at February 20, 2014:
(a) Current cash debt coverage
(b) Cash debt coverage
(c) Free cash flow
Provide a brief interpretation of your results.