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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
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 Variable expenses (80%) $1,150,000 920,000 Income before interest Interest expense (fixed) 230,000 76,000 Net income $ 154,000 Sales Weaver Company $ 1,150,000 690,000 Variable expenses (60%) Income before interest Interest expense (fixed) Net income 460,000 306,000 $ 154,000 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
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