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(Related to Checkpoint 15.1) (Analyzing coverage ratios) The income statements for Home Depot, Inc. (HD), spanning the period 2014-2016 (just before the housing crash, so

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(Related to Checkpoint 15.1) (Analyzing coverage ratios) The income statements for Home Depot, Inc. (HD), spanning the period 2014-2016 (just before the housing crash, so these are representative years) are found here: a. Calculate the times interest earned ratio for each of the years for which you have data. b. What is your assessment of how the firm's ability to service its debt obligations has changed over this period? a. The times interest earned ratio for 2016 was times. (Round to two decimal places) D S thousands Net operating income (EBIT) Interest expense Earnings before taxes. Income taxes Net income $6,843.000 Click on the icon in order to copy its contents into a spreadsheet) 2016 $11,774,000 $10,855,000 (4,012,000) (919,000) 2015 $10,469,000 $9,639,000 (3,631,000) (830,000) $6,008,000 2014 $9,166,000 (711,000) $8,455,000 (3,082,000) $5,373,000

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