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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 $ 1,150,000 920,000 Sales Variable expenses (80%) Income before interest Interest expense (fixed) Net income 230,000 68,000 $ 162,000 Weaver Company Sales $ 1,150,000 Variable expenses (60%) 690,000 Income before interest Interest expense (fixed) Net income 460,000 298,000 $ 162,000 Required: 1. Compute times interest earned for Miller Company and for Weaver Company. Answer is not complete. Times interest earned for Miller Company and Weaver Company. Choose Numerator: Income before interest and taxes Choose Denominator: Times interest earned Interest expense Times interest earned = 0 = 0
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