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Required information [The following information applies to the questions displayed below.] Shown here are condensed income statements for two different companies (assume no income taxes).
Required information [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 $1,300,000 Variable expenses (80%) 1,040,000 Income before interest 260,000 Interest expense (fixed) 76,000 Net income $ 184,000 Weaver Company Sales Variable expenses (60%) Income before interest Interest expense (fixed) Net income $1,300,000 780,000 520,000 336,000 $ 184,000 Required: 1. Compute times interest earned for Miller Company and for Weaver Company.. Times interest earned for Miller Company and Weaver Company. Choose Numerator: 1 Choose Denominator: = Times interest earned Times interest earned
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