Averill Products Inc. reported the following on the company's income statement in 20Y8 and 20Y9: Interest expense Income before income tax expense 20Y9 20Y8 $440,000 $400,000 5,544,000 4,400,000 a. Determine the times interest earned ratio for 20Y8 and 20Y9. Round to one decimal place. Times Interest Earned 20Y9 20Y8
Averill Products Inc. reported the following on the company's income statement in 20Y8 and 20Y9: Interest expense Income before income tax expense 20Y9 20Y8 $440,000 $400,000 5,544,000 4,400,000 a. Determine the times interest earned ratio for 20Y8 and 20Y9. Round to one decimal place. Times Interest Earned 20Y9 20Y8
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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