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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 $1,150,000 Variable expenses (80%) 920,000 Income before interest 230,000 Interest expense (fixed) 60,000 Net income $ 170,000 Weaver Company Sales Variable expenses (60%) Income before interest Interest expense (fixed) Net income $1,150,000 690,000 460,000 290,000 $ 170,000 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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