Loomis, Inc., reported the following on the company's income statement in two recent years: Interest expense Income before income tax expense Current year $286,000 3,975,400 a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place. Prior year Current Year b. Is this ratio improving or declining? Improving Prior Year $314,600 4,089,800

Loomis, Inc, reported the following on the company's income statement in two recent years: a. Determine the times interest earned ratio for the current year and the prior year. Round to b. Is this ratio improving or declining