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Check my worl Required information [The following information applies to the questions displayed below.) Shown here are condensed income statements for two different companies (assume
Check my worl Required information [The following information applies to the questions displayed below.) Shown here are condensed income statements for two different companies (assume no income taxes). Miller Company Sales Variable expenses (80%) Income before interest Interest expense (fixed) Net income $ 1,400,000 1,120,000 280,000 78,000 $ 202,000 es Weaver Company Sales Variable expenses (60%) Income before interest Interest expense (fixed) Net income $ 1,400,000 840,000 560,000 358,000 $ 202,000 Required: 1. Compute times interest earned for Miller Company and for Weaver Company. Times interest earned for Miller Company and Weaver Company. Choose Numerator: 1 Choose Denominator: = Times interest earned 1 Times interest earned = 1
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