Question
Katula Company reported the following on the company's income statement in 2016 and 2015: 2016 2015 Interest expense $413,000 $495,600 Income before income tax expense
Katula Company reported the following on the company's income statement in 2016 and 2015:
| 2016 | 2015 | |||
| Interest expense | $413,000 | $495,600 | ||
| Income before income tax expense | 6,195,000 | 7,136,640 | ||
a. Determine the number of times interest charges were earned for 2016 and 2015. Round to one decimal place.
| 2016 | |
| 2015 |
b. Is the number of times interest charges are earned improving or declining?
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Total Quality Safety Management And Auditing
Authors: Michael B. Weinstein
1st Edition
1566702836, 978-1566702836
