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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 $1,350,000 Variable 1,080,000 expenses (80%) Income before 270,000 interest Interest expense 66.000 (fixed) Net income $ 204,000 Weaver Company Sales $1,350,000 Variable 810,000 expenses (60%) Income before 540,000 interest Interest expense 336,000 (fixed) Net income $ 204,000 Required: 1. Compute times interest earned for Miller Company and for Weaver Company.. Times interest earned for Miller Company and Weaver Company. Choose Numerator: Times interest Choose Denominator: earned Times interest earned
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