eBook Times Interest Earned Loomis, Inc., reported the following on the company's income statement in two recent years: Interest expense Income before income tax expense Current Year $271,000 4,037,900 Prior Year $298,100 4,650,360 a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place. Current year Prior year b. Is this ratio improving or declining? Declining