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please answer each question!! Shown here are condensed income statements for two different companies (assume no income taxes). Miller Company Sales Variable expenses (801) Income
please answer each question!! Shown here are condensed income statements for two different companies (assume no income taxes). Miller Company Sales Variable expenses (801) Income before interest Interest expense (fixed) Net income $1,200,000 960.000 240,000 76,000 $164,000 Weaver Company Sales Variable expenses (608) Income before interest Interest expense (fixed) Net income $1,200,000 720,000 480,000 316,000 $ 164,000 Required: 1. Compute times interest earned for Miller Company and for Weaver Company, Times interest earned for Miller Company and Weaver Company, Choose Numerator: Choose Denominator: Times interest earned Times interest earned 1 0 0 (The following information applies to the questions displayed below.) Shown here are condensed income statements for two different companies (assume no income taxes), Moller Company Salen Variable expenses (801) Income before interest Interest expenso (fixed) Net income $1,200,000 960,000 240.000 76,000 $164,000 Weaver Company Sales Variable expenses (608) Tncome before interest Interest expense (fixed) Net income $1,200,000 720,000 480,000 316,000 $164,000 2. What happens to each company's net income if sales increase by 40%? (Round your answers to nearest whole percent.) Net Income Company Miller Co Weaver Co. % [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 $1,200,000 960,000 240,000 76,000 $ 164,000 Weaver Company Sales Variable expenses (608) Income before interest Interest expense (fixed) Net income $1,200,000 720,000 480,000 316,000 $ 164,000 4. What happens to each company's net income if sales decrease by 10%? (Round your answers to nearest whole percent.) Net income Company Miller Co Weaver Co. % %
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